Just a follow-up on my comments about the MACD this week - I bought the QLD yesterday at 54.50, just below the 400dema, as the Qs remain on a MACD buy signal. Decide for yourself whether this is an appropriate action to take. I think it was.
As long as the MACD of the Qs (the MACD, not the Qs) remains above its low on 7/6, this signal will remain in force, even if the Qs fall below the 7/1 low. The risk for the QLD is greater than 11% at that point.