Purely Technical - Intraday Commentary
Wednesday, Jul 25 '07:
here’s a look at the QQQQ hourly chart.
the ETF seems to be trying its best to stay in a rising channel. it hasn’t gotten oversold even on the hourly charts as yet. translation: if you’re looking for a bounce, don’t look towards the momentum indicators to provide you with one.
the chart below shows the action as of yesterday’s close (stockcharts.com doesn’t let us show static mid-day charts outside their site).

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Here's wishing you a great week of trading!
Asher Pinto
TheMarketMessenger.com