Q's Tackling Near-Term Down Trendline

Q's Tackling Near-Term Down Trendline
By Mike Paulenoff, www.MPTrader.com

The Q's (NASDAQ: QQQQ) have turned up in a big way, but let's notice that the rally has stalled right against the near-term down trendline, which cuts across the price axis at 29.05. If hurdled, then the Q's should accelerate toward my next immediate target zone of 29.50/80. Only a decline that breaks and sustains beneath 28.60 will begin to compromise the current constructive near-term set-up.

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