The PowerShares QQQ Trust (NASDAQ: QQQQ) have violated important very near-term point and figure support at 32.60/50 this past hour, which has triggered some downside follow-through to an intraday low at 32.33, perhaps on the way towards a test of more important support along the Mar-Apr trendline, now at 32.00. A sustained break below 32.00 will be cause for concern for the bulls near-term.
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