Tuesday, October 7, 2008

QID Scores Bullish Gap

As seen in the chart below the Powershares QQQ Ultrashort (QID - FusionIQ Master technical score 87 an inverse ETF that moves 2 times the amount (in the opposite direction) of the Powershares QQQ (the NASDAQ 100 ETF -FusionIQ Master Technical Score 16) scored a bullish breakout two days ago.  This bullsih breakout in a leveraged short ETF suggests the market still may have a ways to fall. 

 

The objective point and figure target for QID is $ 87.00.

 

 


QID10-07-08.PNG


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