QQQQ

QQQQ has support on 42 -- which is being touched as we write this post. A failure at this level and then a reversal above on excellent volume would be bullish. However, looking at things it seems that it is just a matter of time before we hit 36 support later this year. Nothing goes straight down, however, and some kind of bottoming action most likely will be coming soon. Nostra culpa for trying to game it before we actually hit support-- be it a small bet, no excuse, it's just bad trading.

We were looking for a 20% hair-cut earlier in Jan and we're almost there in Nas 100.

And to conclude, the Fed is an idiot.