December 23, 2009 (FinancialWire) (By Frank Kollar) — Shares of the ETF Powershares QQQ Trust (NASDAQ: QQQQ) have broken out to new 2009 highs. Powershares QQQ rallied to the $44.60 level in mid-November and for five weeks they were unable to surpass these highs even after several attempts.

On the bullish side, each decline during this five week time-frame ended with higher lows. This created a wedge shape pattern that would likely have predictive results when broken.

On Monday, December 21, Powershares QQQ broke above the two month resistance line and closed at $44.96. On December 22, Powershares QQQ confirmed this breakout by again closing with a solid gain at $45.27.

This decisive close above $44.60, the horizontal resistance line, is a breakout for the Nasdaq 100 Q’s and forecasts a run to the next resistance level which is all the way up at $48.64, the 78.6% retracement level for the entire 2008-2009 bear market decline.

The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy holds a position in the Powershares QQQ Trust.

Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.

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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