Technical Breakdown: QQQ

We had to write QQQ up this weekend. It's the chart Portfolio 2 sells puts against, it just had an ugly month, and on Friday it closed right on top of a level that matters.

October made a new high at 762.86. The month opened at 742.51. Friday it closed at 704.4. So the whole month’s gain is gone and then some, and QQQ is sitting on the floor of the range it lived in all…