QQQ and NDX Channel Resistance

The QQQ seems to have a bit of a tracking error with the NDX index. QQQ tagged the upper channel line today, but it appears the NDX hasn't made it quite yet. I guess we'll find out over the next few weeks or months if any of the channel or trend line resistance points are important. With the recent extremes in sentiment, I suspect the channels may mark at least a decent pullback if not a major top.

Kim Rice 2/15/12