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Big Picture Chart of Q's Argues for Upside Continuation


Monday August 11th, 2008
Big Picture Chart of Q's Argues for Upside Continuation
by Mike Paulenoff www.MPTrader.com
Big Picture Chart of Q's Argues for Upside Continuation
By Mike Paulenoff, www.MPTrader.com

The Q's -- PowerShares QQQ Trust, Series 1 (Nasdaq: QQQQ) -- are pushing 48.00, but the BIG picture chart argues for upside continuation towards a test of the October 2007 present down trendline, now at 49.10. Only a break that sustains below 47.50 will begin to compromise the scenario for a test of 49.10.

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