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New Upleg for Q's?


If we can ignore the bad data spike on the enclosed chart, the pattern in the Q's (NASDAQ: QQQQ) off of Wednesday's pullback low at 45.91 continues to look like the start of a new upleg within the larger bullish channel off of the March low at 41.89. My pattern and oscillator work point higher, towards a pop to new high territory that projects next to 47.20/50. Only a break of 45.91 will compromise the pattern, and inflict technical damage to the underlying uptrend.
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