How Low Does Tech Go, Potential Support for QQQQ, AAPL, GOOG, MSFT, QCOM

I've been on a massive charting spree given the sell off and volatility. This post is dedicated to technical analysis on QQQQ (Nasdaq ETF) and its largest holdings, $AAPL (Apple), $GOOG (Google), $MSFT (Microsoft) and $QCOM (Qualcomm).  Charts are courtesy of FreeStockCharts.com.

QQQQ:  I'd like it exhausted at $37.50 (June, 2009 support) but that's just me.


AAPL:  Apple is being mashed in an interesting triangle.  It is 15.66% of QQQQ.  If people continue to exit this stock, $180-ish looks like decent support from August, 2008 and $150 from June, 2009.  Watch Apple to guide the QQQQ.


MSFT:  It is right around near term support at $29 (uptrend and floor).  If it breaks that level MSFT could hit $25-26 (summer 2009 support).  Needs confirmation.


GOOG:  $450-475 looks like June, 2009 floor and uptrend support.  Google is 5.25% of the QQQQ.


QCOMM:  Qualcomm just got rocked on 130 million shares after their earnings release and had a weak outlook.  $40 could act as support but if that level fails $36 (Jan-March 2009) is next. .  QCOM is 5.52% of QQQQs.  The gap will get filled at some point, not sure when.


Need more chart analysis? MarketClub has a free video analyzing the NASDAQ that you might find useful. They use trends, fibonacci retracements etc. using trends, fibonacci retracements, etc. Link: NASDAQ crosses important trend line. I'm an affiliate of MarketClub and Elliot Wave International and find their products very useful for trading.

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