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MPTrader Mid-Day Minute
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 Q's Stair-Step Towards Key Resistance
By Mike Paulenoff, www.MPTrader.com The Q's (NASDAQ: QQQQ) continue to stair-step higher towards the top of the March-May channel at 50.00/20, which should provide the next serious challenge to the powerful 8-week advance. My overall technical work is warning me to be prepared for another attempt by the bears to reverse the direction of the Q's, which if successful should press prices back towards the 48.30/00 support zone. This should not be construed as a call to short the Q's -- at least not yet anyway. For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his ETF Trading Diary. |
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