2007-2-27 2007-2-27 The QQQQ uptrend line is no longer valid. The uptrend line was broken by the strong down day that happened toward the end of November and it is now clear that a consolidation is happening. A consolidation puts an end to the past uptrend. Therefore, the blue lines are no longer valid. You can see how the 50 day moving average is approaching the ETF. Currently, QQQQ has massive support at 43. Not only horizontal support, but also 50 day moving average support. It is possible for QQQQ to move a little lower during this sideways action, but we do not foresee QQQQ breaking the 43 area. A break above the November highs will end the current consolidation. text/html 83903 http://www.nasdaqwizard.com/MidPics/mid121106.html 1.0 EN index,follow Uptrend Line Technical Analysis Uptrend Line / Technical Analysis. The QQQQ uptrend line is no longer valid. text