Powershares Nasdaq 100 ETF (NASDAQ: QQQQ) Powers Ahead Says Market Timer Frank Kollar
October 9, 2007 (FinancialWire) (By Frank Kollar)
Shares of the Nasdaq 100 Index ETF, Powershares Nasdaq Exchange Traded Fund (NASDAQ: QQQQ) rose Monday while the other major indexes closed with small losses.
The Q’s are now decisively above a strong resistance level at $52.36. The close above this level is a bullish indicator for continued gains to the next resistance level at $54.53.
The new target for this hot Nasdaq advance is now $53.53, and that is 2.6% above Monday’s close.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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