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 Pushing Resistance
Let’s notice that the PowerShares QQQ Trust (Nasdaq: QQQQ) is pushing up against the sharply declining 200-day moving average, now at 34.24, which if hurdled should trigger upside acceleration towards my next optimal target zone of 35.20/50. That will imbue the big picture chart of the Q’s with a similar very constructive look exhibited by Cisco (CSCO), per my posting from yesterday. I am still using 33.30 as my stop-reversal plateau.