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MPTrader Mid-Day Minute
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| Tue Jul 29th 2008
Q's Near Test of Key Resistance
By Mike Paulenoff, www.MPTrader.com The time of truth for the Q's (NASDAQ: QQQQ), which have spiked to the upside off of yesterday's pivot low at 44.21, and are nearing a test of key resistance between 45.60 and 46.00. If hurdled, the Q's will breakout of a month-long base pattern that will trigger potential to a minimum projected target of 47.80-48.20. A downside violation of 44.20 will wreck the entire rounded base pattern and argue for a retest of the July low. For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his ETF Trading Diary. |
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