Posted by: timetraveller December 31, 2006
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I agree with eminitrader.
Look at the chart of the QQQQ fellers. If this baby breaks through that long black resistance across the chart and goes downwards, I believe it is an early sign that overall markets will see a correction.
For those who don't know what the QQQQ is, in layman's words, it just tracks the 100 top stocks in NASDAQ and are highly correlated with NASDAQ. It's an ETF- Exchange Traded Fund.
In my previous post I explaiened to someone that an ETF is like a mutual fund, except it can be traded like stocks.
Tracking this can show early promising signs of overall market conditions