PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) has bounced 12.5% off early February lows. As it continues higher, there are some major technical resistance points to watch.
The first key level approaching is the daily 200 moving average. The second, just above the first is a major trend line that connects recent pivots. These two major levels are $107.85 and $106.60. Anywhere between these two lines, the NASDAQ 100 should have a pullback, most likely major in size.
Get alerted to new positions taken by Nick and Gareth live in the Research Center. Click here to enter FOR FREE!