Don't Ignore This Chart!

QQQQ Hits Prior Support Zone

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Broken support turns into resistance. This basic tenet of technical analysis will be getting a test as the Nasdaq 100 ETF (QQQQ) reached broken support. For now, I would consider this “potential” resistance because the trend since March is clearly up.

090922qqqqClick this chart for details.

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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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