PowerShares QQQ Trust, (NASDAQ:QQQQ) Forming Head & Shoulders

By George Zabel
November 05, 2009 12:20 PM

Symbols: QQQQ

Posted in: Long Ideas, Futures, Short Ideas, Options, Price Target, Technicals, Markets, Analyst Ratings, Movers, Trading Ideas

PowerShares QQQ, (NASDAQ: QQQQ) looks like its making a massive H&S formation which could bring new lows in the near term.

Recent Put activity confirmed this at the CBOE and PowerShares QQQ could move low enough, intimidating bullish investors. Analysts expect that this correction should occur within this month and that the major, underlying rally will resume before Christmas.

< Previous
Chesapeake Energy Corporation (NYSE:CHK) Among Most Active Puts Today

Next >
SAVVIS, Inc. (NASDAQ:SVVS) Highly Rated by Analysts, Technicians

Printer-friendly version

Send to friend

We're Loving

Yahoo!'s Interim CEO Doing the Right Things

Why History Favors the Bulls

How to Deal With Workplace Stress

You Could Have Profited 14% on AOL by Using Benzinga Pro. Try It for Free Now!

Goldman Investment Shines Light on Solar Power

Benzinga's Premium Memberships

Options & Volatility Edge

Options & Volatility Edge is for those people who want to make money using cost effective options trading strategies. This product is for anyone—novices and experts. If you understand how to enter an options trade, you need Options & Volatility Edge.

Learn More >>
14 Day Free Trial!

Basic Premium
ETF Professor

The ETF Professor is truly an appropriate moniker, because the Professor spends hours everyday analyzing the charts of dozens of ETFs EVERY DAY.

Learn More >>
14 Day Free Trial!

Basic Premium
Winning Stocks

Winning Stocks tracks and analyzes attractive stocks that are poised to make great returns for the average investor. Investors receive the right information at the right time, which provides them with the possibility for great gains and the potential to beat the market.

Learn More >>
14 Day Free Trial!

Basic Premium

Real-Time Rumors

In this game, information is everything. You have to know what is happening before the Street begins trading against you utilizing the new information. We will provide you with that edge.

Learn More >>
14 Day Free Trial!

Basic Premium
Chart-Caster

From novice to pro, Chart-Caster delivers over $11,000 per month* in profitable trade setups across all time-frames from which members can evaluate, select, and replicate within their own trading accounts.

Learn More >>
14 Day Free Trial!

Basic Premium

PowerShares QQQ Trust, (NASDAQ:QQQQ) Forming Head & Shoulders

Benzinga's Premium Memberships

More stories by George Zabel

From Benzinga's Newsdesk

Benzinga's News Delivered Free

Latest from Premium

Brain Trust

Popular Channels

Tools & Features

About Benzinga

Social