QQQQ 21-08-07

I. Market Commentary (Fuente: HOTSTIX)

Last week we suggested that our members get short the Q's. Lucky for us it worked out well. They were later advised to cover 1/2 the position at the big support below. Now, they still have 1/2 the position and will either be stopped out or will cover down around 43. The past two days have seen a snapback to the broken neckline of the Head & Shoulders on lighter volume than when the breakdown occurred. This is not a bullish sign. We think at the very least some sort of retest of the lows will be seen soon.

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