For the fourth time over the last five years, the Nasdaq-100 (QQQQ), a proxy for the tech industry, is coming upon price resistance at $43. And for the fourth time over the last five years, it will most likely fail.

The QQQQ is the top ETF as far as trading volume. But there’s no denying the distinct Double Top formation at $43 from earlier this year, and the recent rally may be a last-ditch attempt to sustain price.

Out of the top ten holdings of the QQQQ, there’s been some great earnings news.

Apple Computer Inc.’s (AAPL:NASDAQ) fourth-quarter earnings profit increased by 27% compared to the same last year. Google Inc. (GOOG:NASDAQ) showed a 92% gain in profit for the third quarter. And while Intel Corp. (INTC:NASDAQ) reported poor profit and sales, again, its results did “top Wall Street’s view.”

Amgen Inc. (AMGN:NASDAQ) reports after the bell today. But you have to wonder… even with all this good tech news… why was the QQQQ down on Friday? And why does it look to be stalling at such a historical resistance line?

Purely on technicals.

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