TECHNICALS -QQQQ

There is a picture of the QQQQ. Maria said yesterday afternoon that there has been a powerful rally in the NAZ this year. Well the NAZ 100 seems to show something else. The high for the year was made back in January and now it appears that we are hitting a lower high. The momentum indicators RSI ROC and MACD are all showing slower momentum and may be predicting lower prices. Lower highs on these indicators usually precede lower prices on the index itself.

Also, over the last few sessions it has been clear that the big cap stocks have been leading. In the past, when the Nazdaq begins to underperform, they all tend to rollover.