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Nasdaq 100 Index ETF QQQ: Ultimate Bull Battle Zone?
​August 23 2016 ( From TradingView )
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​The Situation

​​​
​Financial assets like the SP500 Index (SPY ETF) had a very good ​
​performance ​indeed ​since bottoming out on February 11 2016 as even
​the Nasdaq 100 Index (QQQ ETF) ​joined the party and since June 24,
​QQQ ETF is Outperforming the Mighty SPY ETF Tremendously.
​​Trading now into a Tiny Steep Uptrend ​channel for QQQ ETF and Bulls
need to protect the Support of that Channel at all costs.​

​(See First Chart Below - Uptrend Channel - Ellipse)​

QQQ ETF is at +7.8% above the 200 DMA ​(Day Moving ​Average) as of the
​close of ​August 22 and SPY ETF is only at +6.5% above it s 200 DMA.​


​​But few of us realize ​the ​outperformance of the Nasdaq ​100 
Index​ ​(QQQ ETF) ​compare to the Mighty SP500 Index (SPY ETF) on a relative basis since June 24 after testing a Major Support Trendline that started back since November 2008!. ​​(See Second Chart Below - Red Trendline - Ellipse)

​​​The market is in favor for the technology stocks over the broad stock market indices lately. As history repeat itself, we must be aware that this Support Trendline on a relative basis was the last call for Bulls back then for the Nasdaq 100 Index as it was tested on June 24 and rebounded strongly since then. 

​(See Second Chart Below - Red Trendline - Ellipse)


What is quite interesting, is that the relative volatility (ratio of Nasdaq 100 Volatility Index VXN over the
SP100 Volatility Index VXO) is almost at its lowest since June 2014. As only a few big names makes this index (top 5 AAPL, MSFT, AMZN, FB and GOOG makes 35.4% of the weight on the QQQ), the QQQ ETF relative volatility won t last long at that level as we are near testing the Major Resistance Trendline that started since July 2008... 
​(See Third Chart Below - Blue TrendLine - Ellipse)

What strikes me the most, ​​is at a time were relative volatility is on the high side, QQQ ETF is making new highs price wise and is in the process of breaking a Daily Resistance Trendline but most importantly a Monthly Major Resistance Trendline that started back since March 2000!. The Ultimate Bull Battle Zone is here!
(See Fourth Chart Below - Red Trendline - Ellipse)
​​

Nasdaq 100 Index ETF QQQ: Ultimate Bull Battle Zone? $COMPQ  #Trading #nasdaq #investing #sp500  #spy #stocks

Financialiceberg.Com
Daily RATIO
Nasdaq 100 Index ETF ( QQQ )
over SP500 Index ETF ( SPY ) 
​20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​

Financialiceberg.Com
Daily RATIO (Blue Line)
Nasdaq 100 Index ETF Volatility (VXN)
over SP100 Index Volatility (VXO)
​20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​


Financialiceberg.Com
Daily Chart ( Candles )
Nasdaq 100 Index ETF ( QQQ )
20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​​​


​Monthly Chart ( Candles )
Nasdaq 100 Index ETF ( QQQ )


Financialiceberg.Com