QQQQ Support in Trouble

The QQQQ is in real danger of breaking down from its long term trend this week. If the angels don't step in and save it now (angels are an investor's term for institutions that step in and buy weakness) we could see a major support break occur. With the Dow and S&P still rising on weak volume should the Nasdaq 100 break down here, things could get very ugly in the US markets. We are very happy to be nearly fully invested in commodities and in the foreign markets at this point. We don't know what will happen with the US markets over the course of the next month, but risk is very high there and it is best to be placing your money with the alternatives we outlined in yesterday's report.