Feb 20

Q's Poised for New Recovery Highs

The intraday pattern in the Nasdaq 100 Trust Shares (Nasdaq: QQQQ) argues for another pop to the upside into new recovery highs near 45.20 prior to the completion of the upmove off of this morning's pivot low at 44.43 -- as well as the conclusion of the larger upleg off of "The Bernanke Low" at 43.59 from 2/12.
Chart

Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!