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QQQQ Reversal?

sp0om said: "This post is aimed at you if you're into technical analysis. I started looking at stochastics recently and included a mini analysis of the QQQQ below. Right now, the slow and fast stochastics are crossing over above the 80 line, and the RSI is also above the 80 line. Around June 2rd or 3rd the same RSI and stochastic conditions were present and there was a reversal. Are we in for a reversal now? If you've been keeping an eye on stochastics longer than I have, I'd be interested in hearing your opinion. [IMG]http://img.photobucket.com/albums/v231/secretshadowninja/z.png[/IMG] [SIZE=1][B][COLOR=Red] DISCLAIMER: I want to make it extremely clear that this is[U] not[/U] a recommendation to buy or sell anything. This is merely my own opinion and should [U]not[/U] be construed as professional advice. [/COLOR][/B][/SIZE]"

HappyHarry said: "Great question. A reversal of the QQQ could mean a downtime for the whole market, yes?"

StockFreak said: "The stochastics dont look nearly as convincing if looking from the beginning of the year. Could be im just in a really bullish mood this week tho. We may be in for some profit taking but i think the strength in this rally seems to to keep surprising even the bulls! I banking that the uptrend in the Naz will continue thru the end of Q3."

HappyHarry said: "I feel bullish as well. Earnings have been very good lately!"

StockFreak said: "Thats right, they have been and this week we are getting the "Tour de Earnings" as ive heard some commentators call it. So im guessing the reports will set the tone."

Darren said: "i expect some big ups in earnings"