Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Q's Heading Higher


The daily chart on the PowerShares QQQ Trust (Nasdaq:  QQQQ) is scary because is so bullish – and represents a much more powerful pattern than the SPYs.  The reason that it is scary is because the Q’s are poised to confront the declining 200 DMA, now at 33.34, which is 3% above current prices.  However, my upside measured targets off of the huge base pattern are 35.20/40, and then 38.00.  The weakness earlier in the week in the Q’s tested and held critical intermediate-term support at 32.00-31.80 and since yesterday morning the price structure has turned up—and is accelerating towards a test of the 200 DMA (34.50 area).  Only a plunge that breaks 31.80 will wreck the near and intermediate-term bullish set-up.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!