QQQ facing 10 year old resistance?

I noted possible trendline resistance faced by the S&P yesterday.  Today, we look at Nasdaq’s QQQ ETF which appears to be facing trendline resistance of its own that dates back over 10 years.

Daily Reading on the Financial Markets: 8/22/12

Ace market technician Chris Kimble has noted that silver is breaking out, while the US Dollar appears to be breaking down.

Wolf Richter at Testosterone Pit on the rush of Euro hopium that has pushed the market to recent highs.

From Of Two Minds, an essay on ways the healthcare system can be made more efficient.

To the dismay of Fed doves, the NY Fed has released a paper suggesting no further QE is needed at this time, since Fed policy cannot effect the current “mismatch” of labor supply and demand.

From Visualizing Economics, while scare tactics are aplenty about what higher tax rates might mean, historically, we remain near the lowest rates in American history: