Keep QQQ on a Tight Leash
The recent declines in the market were frightening to some, especially in view of some of the lower-time-frame charts. But, taking Apple (AAPL) as an example, the stock's slide hasn't been quite so scary if you've been watching via a weekly chart. These shares underwent a beautiful corrective decline of $72.09 over five days -- rather similar in price to one of the larger prior declines last year, at $68.62, and another one in 2010, at $73.21.
Staying in the tech space, let's take a look at some parameters of PowerShares QQQ (QQQ). Overall, the larger trend in the stock indices is still upward, and the corrective decline we've been seeing recently is totally in order. On the daily QQQ chart below, you will notice that I labeled the recent corrective $3.31 decline into the April 16 low -- very similar to a prior decline of $3.45....550 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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