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| QQQ daily chart 7-20-11 analysis |
Stock markets had biggest gain of this year, at least for Dow Jones (202 points in one day).
Therefore, the next day after such a big rally, is usually shock absorption day and retails investors, locking in profits, thereby creating a pause. Which re-generates the buyers and cleans out the sellers, thus giving another run up to higher prices. QQQ came to touch all time high of this year and the last 10 years for that matter. Therefore, some sellers there, with sell stops to be triggered...... Market shall continue its rally!
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