The Cubes Want to Move Down

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The chart of QQQ is really interesting right now. Below is a candlestick close-up of recent activity. As you can see, in spite of bullish efforts to push higher, the bears are still in control (albeit barely). We are below the trendline which, until recently, supported the entire lift from March 2009. Just about any kind of event – – oh, say, like a drop in GOOG after today's close – – would send this index tumbling.

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