Ultra QQQ ProShares(QLD) is in an uptrend but could lose its momentum

(23-May-2008) (23-May-2008) Ultra QQQ ProShares(QLD) closed at 89.47, up 1.6 or 1.82 % for the day. Based on our analysis, Ultra QQQ ProShares(QLD) is in an uptrend but could lose its momentum.

The closing price of Ultra QQQ ProShares(QLD) is above its 50 day moving average of 79.94 (Designated by blue line). This indicates that the trend is up. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that Ultra QQQ ProShares(QLD) is losing momentum. Sustained loss of momentum could put the uptrend at risk. The MACD histogram crossed below the signal line on 21-May-2008, about 7 trading days ago.