$QQQ was floating well above its rising 4 wk average (red dotted line) last week. That is a sign of being extended. This week it has returned to this important line of support. We have to see if it will close the week above this line. If it fails to, the next line of support is the 10 week average (blue dotted line). A failure to hold there would be a sign of significant weakness and a possible change in trend. I am mainly in cash in my trading account, having been stopped out of my positions.
