SELL SMELL?

The picture of the QQQQ chart is interesting as it runs smack up against its 200 day SMA.

It is also very extended above the upper bollinger band and trading with a 2 day RSI reading over 90. MACD Histogram also giving a bearish divergence as MACD was higher when QQQQ was much lower.

On another front, SMH is trading in the red and the semis usually lead the QQQQ around by the nose, so lets see if it brings the Q's lower today. Breadth however hangs tough at the +400 mark as the QQQQ pulls back slightly in the afternoon trade.