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QQQQ - Weekly Ichimoku Chart

The QQQQ's have held the red Kijun(Trend Line) for three weeks. Last week it managed to close higher after the previous weeks doji and also managed to close above the 20wk ema, a commonly used mav on Ichimoku charts. Next resistance is the light blue Tenkan line around 44.38. It looks constructive at this point although the blue 90wk mav is still ticking lower. What I would like to see next week is a move higher with a weekly close above the high of the previous red candle. I would appreciate any and all feedback.

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Comments

  • so does this mean the QQQQ's run till .IXIC hits resistance @ 2225, definately good for a quick trade IMO
  • thx for the post for me wut still continues to concern, is lookin at numerous charts where the 50dy (on a 6mth) is now resistance. Am i crazy or is anyone else seeing this? And with the averages drifting lower...does this mean we continnue to grind lower?
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