- Technical Market Commentary -

August 24, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Today’s FirstAlert(tm) features AT&T Inc. (NYSE: T), YRC Worldwide Inc. (NASDAQ: YRCW), 361 Degrees International (OTC: TSIOF), Suncorp Technologies Ltd (OTC: SUNTF), Pacific Brands Ltd (OTC: PFBDY), AER Lingus Group plc (OTC: AELGF), and more…

Bearish Days Ahead For QQQ Trust (By Frank Kollar) — Shares of the Powershares QQQ Trust ETF (NASDAQ: QQQQ) are starting to add up a bunch of negative indicators, forecasting lower lows in coming weeks.

On Monday, August 23, the Q’s rallied at the open and then spent the rest of the day erasing the gains and finally closing lower. The day was a bearish outside trend continuation day. This indicator is triggered when there are higher highs and lower lows than the preceding day’s trading range and the close is also lower than the previous day’s close.

Monday’s close at $44.48 was at exactly the 50% retracement of the July to early August rally.

The Q’s are now below the ETFs 50-day moving average as well as its 200-day moving average, and the 50-day average has crossed below the 200-day average, which is a bearish indicator.

The Q’s should decline to the 61.8% retracement support level at $43.84 in coming days. How the ETF performs at that point will likely determine its future near-term direction, which could easily see a test of the $42 correction lows if it is broken.

(Go to http://www.financialwire.net/2010/04/22/about-kollar/ for more about Mr. Kollar, and go to http://www.financialwire.net/?s=kllrfby+cmmtry for more of Kollar’s commentaries.)

**Today’s FirstAlert(tm) is brought to you by Marshal Shichtman & Associates, P.C. (see below).**

The FirstAlert(tm) “Money Index” is an indicator of the depth of market direction or indirection. While not always including the same stocks, the combined NYSE, AMEX and NASDAQ 25 most actives and combined NYSE, AMEX and NASDAQ greatest percentage losers and greatest percentage winners (weighted against pure monetary loss/gain) indicate the direction in which the mass of money is flowing, as well as the general focus of the market. Last session’s most actives showed 8 advancers versus 17 decliners. Volume leaders were led by Citigroup, Inc. (NYSE: C) (streaming research for Citigroup available at http://investrend.stocksmart.com/ri/toc?tid=7921), the SPDRS S&P 500 Trust ETF (AMEX: SPY) (streaming research for SPY available at http://investrend.stocksmart.com/ri/toc?tid=34430), Bank of America Corp. (NYSE: BAC) (streaming research for BAC available at http://investrend.stocksmart.com/ri/toc?tid=8456), Microsoft Corp. (NASDAQ: MSFT) (streaming research for MSFT available at http://investrend.stocksmart.com/ri/toc?tid=4652), Intel Corp. (NASDAQ: INTC) (streaming research for INTC available at http://investrend.stocksmart.com/ri/toc?tid=3619), Cisco Systems, Inc. (NASDAQ: CSCO) (streaming research for CSCO available at http://investrend.stocksmart.com/ri/toc?tid=1723), the PowerShares QQQ Trust ETF (NASDAQ: QQQQ) (streaming research for QQQQ available at http://investrend.stocksmart.com/ri/toc?tid=1044870), Pfizer, Inc. (NYSE: PFE) (streaming research for PFE available at http://investrend.stocksmart.com/ri/toc?tid=8675), General Electric Co. (NYSE: GE) (streaming research for GE available at http://investrend.stocksmart.com/ri/toc?tid=8030), the Financial Select Sector SPDRS ETF (AMEX: XLF) (streaming research for XLF available at http://investrend.stocksmart.com/ri/toc?tid=1026233), YRC Worldwide, Inc. (NASDAQ: YRCW) (streaming research for YRCW available at http://investrend.stocksmart.com/ri/toc?tid=7771) and AT&T, Inc. (NYSE: T) (streaming research for AT&T available at http://investrend.stocksmart.com/ri/toc?tid=8720).

The FirstAlert(tm) Economics Calendar lists Weekly Chain Store Sales (8:55 am ET), Existing Home Sales for July (10 am ET), Treasury auctions 2-year notes (1 pm ET).

The FirstAlert(tm) Events Calendar showcases UNT, CXO, ERF, SM at the EnerCom Incorporated Oil & Gas Conference (day 3 of 5).

The FirstAlert(tm) Earnings Calendar highlights 361 Degrees International (TSIOF.PK) Preliminary 2010 Earnings Release; AER Lingus Group PLC (AELGF.PK) Interim 2010 Earnings Release and Earnings Conference Call; Eltek Ltd Q2 (ELTK) 2010 Earnings Release; Israel Chemicals Ltd (ICL) Q2 2010 Earnings Release; Pacific Brands Ltd (PFBDY.PK) Preliminary 2010 Earnings Release and Earnings Conference Call; Suncorp Technologies Ltd (SUNTF.PK) Interim 2010 Earnings Release.

Quote of the Day: "If God had meant there to be more than two factors of production, He would have made it easier for us to draw three-dimensional diagrams." — Robert Merton Solow, US economist.

Word of the Day: foudroyant \foo-DROI-uhnt\, adjective: 1. Overwhelming and sudden in effect. 2. Pathology. (Of disease) beginning in a sudden and severe form. 3. Striking as with lightning.

In context: “I remember myself, in childhood, to have met a niece of John Wesley the ProtoMethodist, who always spoke of the second Lord Mornington (author of the well-known glees) as a cousin, and as intimately connected with her brother the great foudroyant performer on the organ.” — Thomas De Quincey, The note book of an English opium-eater

(Foudroyant is adapted from the French foudroyer, "to strike with lightning.")

Today is: Vesuvius Day

Happy Birthday: 1759 – William Wilberforce, English abolitionist (d. 1833); 1852 – Deacon White, American baseball player (d. 1919); 1902 – Carlo Gambino, Sicilian-born American mafioso (d. 1976); 1927 – Harry Markowitz, American economist, Nobel laureate; 1944 – Gregory Jarvis, American astronaut (d. 1986); 1962 – Major Garrett, American journalist; 1980 – Sonja Bennett, Canadian actress; 2003 – Alexandre Coste, son of Albert II, Prince of Monaco.

Today in History: 79 – Mount Vesuvius erupts. The cities of Pompeii, Herculaneum, and Stabiae are buried in volcanic ash; 410 – The Visigoths under Alaric begin to pillage Rome for three days; 1200 – King John of England, signee of the first Magna Carta, married Isabella of Angouleme in Bordeaux Cathedral; 1456 – The printing of the Gutenberg Bible is completed; 1690 – Calcutta, India is founded; 1814 – British troops invade Washington, D.C. and burn down the White House and several other buildings; 1902 – A statue of Joan of Arc is unveiled in Saint-Pierre-le-Moûtier; 1949 – The treaty creating NATO goes into effect; 1995 – Computer software developer Microsoft releases their Windows 95 operating system; 2006 – The International Astronomical Union (IAU) redefines the term "planet" such that Pluto is considered a Dwarf Planet.

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Disclosure: Frank Kollar’s Fibtimer.com (http://www.fibtimer.com/) ETF Timing Strategy has a position in the Powershares QQQ Trust ETF.

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