Trendlines are a simple tool, but at times like the current one could help us gain some perspective.
The above chart (click to enlarge) shows that the QQQQ broke the trendline on the downside after four months of trading above it. The correction should last about the same time.
When do you become positive?
The QQQQ is now trading below a down trending trendline. Watch for QQQQ breaking on the upside this trendline. This is a good time to start becoming positive.
More on http://www.peterdag.com/.
George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
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