NASDAQ, SP500, Dow Jones, Russell 2000 Technical Analysis 5 - QQQ, SPY, DIA, IWM - The Chart Readers

QQQ and NASDAQ - These have made real strong runs following the strength of the other indices. It seems the 100 Moving Average is the current test here; however, glad to see we did better today than the last 2 days as well as healthy MACD and RSI readings. Overall, if this can get over the 100MA, things will look great (especially for tech stocks); otherwise, ideally, we dont go any lower than the 50 Moving Average before bouncing up for another attempt at breaking the 100MA

SPY, SP-500 and IWM - These continue to sit in the middle of the Dow Jones and the NASDAQ, and it looks like IWM is starting to pull away from the SPY/SP-500.
IWM was able to get over both the 100 and 200 Moving Averages; however, it could use a stronger confirmation over the 200MA
SPY/SP-500 was able to break the 100 Moving Average with confirmation; however, this is still under the 200MA

Sitting at 2 indices over the 200MA and 2 under the 200MA is better than all under; however, the real sign that this downtrend fear is over is when all 4 are over the 200 Moving Average

DIA and Dow Jones - This has officially broken the 200 Moving Average with confirmation. Beautiful!!
At this point, we either want to see the uptrend continue or an occasional healthy pullback and bounce off the 8 Moving Average.
just needs to sit above the 200 Moving Average and wait for the other indices to join!!

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