Not necessarily. We could get a fake breakout and then collapse. I see that as being very possible. We are reaching some thin air up here.
QQQQ extremely overbought..... Not to worry though, this is 1990's all over again, anything overbought just becomes even more overbought.
Close to being busted, within a whisker of a stop level. But this Weekly chart shows why I am still interested, but next time I will have to see 40.5-41 area to be taken out. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2636753>