The QQQQ should be concluding the plunge from Tuesday's pre-election peak at 34.01 in the 30.70-30.20 target zone prior to a potent (perhaps very brief but violent) recovery rally period that should propel the QQQQ to at least 32.00 in the hours directly ahead. At this juncture, only continued weakness that breaks 30.00 will argue that the QQQQ just might be heading to fill the gap under 29.00 before the next rally.



Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.