QLD Analysis: We must look at each and every price bar and volume bar. The open, close, range, and volume. We also look at the action of that bar vs. previous bars. Finally we look at the “action” in relation to key moving averages. QLD had big down bars on heavy volume. Bounced back on less volume. That’s poor action. 3 days ago falls below the 50 day M.A. on another volume increase. Poor action.
QLD needs to go up, take out the 50 day M.A. on a volume surge. If not, caution is warranted.