Watch Apple And Google For Clues About The QQQQ, Says Dr. Joe Duarte

(Comment on this article at http://www.financialwire.net/2009/08/27/watch-apple-and-google-for-clues-about-the-qqqq-says-dr-joe-duarte/)

August 27, 2009 (FinancialWire) -- Dr. Joe Duarte (http://www.joe-duarte.com) recently noted: Google (NASDAQ: GOOG) and Apple (NASDAQ: AAPL) are up against key resistance making the Nasdaq 100 Trust ETF (NASDAQ: QQQQ) vulnerable.

Duarte added: Google's quiet rally over the last few weeks and Apple's steady performance have made the Nasdaq 100 Trust a market bellwether of late. But as the Qs have moved above 40, the big question is where the fuel for the nex up leg is going to come from.

With Apple and Google looking a bit overextended, you have to wonder if a consolidation or even a real pullback is in the offings for the Nasdaq 100 and thus the rest of the big tech sector.

Volume may be a clue. Over the last few days, volume on up days for QQQQ has been a bit less than volume on down days. That suggests that some selling is taking place.

The same general pattern is visible in Apple, but not so much in Google where volume looks a bit more constructive.

Duarte's conclusion: Nothing is changed here for the Qs, though. As long as the ETF stays above 40, we have to give the market the benefit of the doubt.

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Duarte partners with the Investors Resource Center at Investrend Information (http://www.investrendinformation.com).

Duarte's IntelligentForecasts.com (http://www.intelligentforecasts.com) provides free news coverage and analysis, and his daily articles and news summaries offer recommendations and analysis for ETFs, and individual stocks in the technology, health and biotechnology, and energy sectors. Duarte has combined expertise in health care, energy, and the effects of politics and global intelligence on the financial markets offer a unique blend of insight and information to thousands of active investors and political and intelligence aficionados around the world on a daily basis.

He is the author of: Futures And Options For Dummies, Successful Energy Sector Investing, Successful Biotech Investing and co-author of After-Hours Trading Made Easy. In early 2001, in Successful Energy Sector Investing, he correctly predicted that Venezuela's political problems could lead to an energy crisis in the United States. He has also appeared as a weekly guest on Market Mavens Radio and has logged appearances on KNX radio in Los Angeles, Financial Sense.com radio, and Wall Street Radio.

One of CNBC's original Market Mavens, Dr. Duarte has been writing about the financial markets since 1990. His articles and commentary have been featured on CBS Marketwatch, Barron's, Smart Money, Medical Economics, and in Technical Analysis of Stocks and Commodities magazines. In 2003, Doctor Duarte received second place, in the professional section, of the Medical Economics Investment Challenge with a 12-month return of 42%.

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