Don't Ignore This Chart!

QQQ hits Support on 50 Cent P&F Chart

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Even though the 50-cent P&F chart for QQQ sport a double bottom breakdown, the overall trend is up because QQQ remains above the Bullish Support Line (blue). Also notice that the ETF is hitting support from broken resistance at 65. The moment-of-truth is here for QQQ.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.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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