Review of four ETFs - the DIA, QQQQ, TLT and PPH.

As we speak, the DIA is trading above its prior recovery rally peak at 110.59 (from Mon.), which should trigger additional strength that tests the 6/21 recovery peak at 111.25

The QQQQ's have followed-through to the upside off of yest.'s pivot low at 37.38 into the 38.00/20 area, which is the heart of near term resistance between 38.10 and 38.40, which has to be hurdled to trigger acceleration to more important resistance at 39.00. A hurdle of 39.00 will be considered very constructive and will trigger a new upside target of 40.30/60. At this juncture, only a break of yest.'s low at 37.38 will wreck the improving technical conditions and chart pattern in the Q's...

After some rough going yest., the TLT's have turned up again in what my technical work argues is a significant secondary pullback low in the low 83.00 area, ahead of a potent recovery upleg that should revisit the June 13th rally peak near 86.00

Finally, let's take a look a my updated BIG picture chart analytics of the PPH (Pharmaceutical ETF)...

For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his new ETF Trading Diary -- a combination of his diary services.

  • 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!