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MIKE PAULENOFF'S ETF TRADING DIARY

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Mid-Day Minute for Tue May 6th 2008 RSS

Tue May 6th 2008
Q's End Decline
by Mike Paulenoff, www.MPTrader.comQ's End Decline
By Mike Paulenoff, www.MPTrader.com

I have very preliminary signals that the decline from Friday's high at 49.29 in the Q's (NASDAQ: QQQQ) ended this morning at 48.14. If accurate then the Q's should NOT violate 48.14 on any ensuing weakness and instead should continue higher towards a retest of last Friday's high at 49.27 on the way to new multi-month recovery highs projected into the 50.00/40 target zone.

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