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QQQ - Hourly Chart Suggesting A Wave 3 Down

|Includes:PowerShares QQQ Trust ETF (QQQ)

Above, the QQQ Hourly Trend Model strongly suggesting that an impulse wave down has begun on the Hourly Chart.

Below, the QQQ Daily Trend Model is sitting right on trend line and regression trend channel support. If support is broken (as suggested by the Hourly chart), a significant market decline will have begun.

Disclosure: I am short QQQ.

Stocks: QQQ