Bears may make another attempt to reverse the direction of the Q's.
The Q's (NASDAQ: QQQQ, Bullboard) continue to stair-step higher towards the top of the March-May channel at 50.00/20, which should provide the next serious challenge to the powerful eight-week advance. My overall technical work is warning me to be prepared for another attempt by the bears to reverse the direction of the Q's, which if successful should press prices back towards the 48.30/00 support zone. This should not be construed as a call to short the Q's – at least not yet anyway.

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