For now, notice how far away the LOW of the candle is from the red daily 5 moving average. Notice that since August, the candle lows tend to "hug" this, because the 5 MA is very short (unlike 20 or 50 period moving averages).
The 5 MA represents "support" and the QQQQ are too far away, on light volume.
Also notice the bear divergence forming on the MACD histogram.
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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