and Opening Power is falling for QQQ?
In 3 of 5 cases, the QQQ rallies 5% to 8%. In these cases a CP uptrned break brings only a
minor decline.
When the CP uptrend breaks with the QQQ unable to get much past the 21-day ma,
or stalls at 65-dma resistance, it if falls sharply, as Professionals quickly reverse positions.
Size of rally When CP uptrend broke
--------------------------------------------------------
June 2002 - to falling 21-dma QQQ fell from 28 to 22 in a month.
May 2003 27 to 29 QQQ fell only to rising 21-dma
Sept 2003 33.5 to 34.5 34 to 32 in a week
July 2005 37.5 to 40 39.5 to 38.5
October 2006 40.5 to 44 44 to 43
Aug 2008 small big decline
Sept 2008 small big decline
March 2011 initial decline recovery and small gain
