Powershares QQQ Trust (QQQQ) — This trust holds all of the component securities of the Nasdaq 100 Index and, since the stock market’s low on Nov. 21, it has formed a “V” bottom, breaking the downtrend line and trading sideways.

Recently the Qs have been pulling in some buyers — note the green volume bars — and the index is now above its 20- and 50-day moving averages.

With the stochastic moving up, the pattern could either break to the upside with a target of $35 or continue in the sideways pattern.

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