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Mon October 13th 2008
Completed Initial Upleg in Q's?
by Mike Paulenoff, www.MPTrader.comCompleted Initial Upleg in Q's?
By Mike Paulenoff, www.MPTrader.com

The pattern carved out by the Q's (Nasdaq: QQQQ) off of Friday's low at 29.38 into the 33.63 high today (so far) has the right look of a completed initial upleg -- ahead of a pullback that should re-enter this morning's up-gap between 32.30 and 31.40. Only continued strength that hurdles 34.00-34.20 will argue that the current advance has considerably more power than I am willing to ascribe to the upmove off of Friday's low.

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