- Analytical Commentary -

March 16, 2010 (FinancialWire) (By Frank Kollar) — Shares of the ETF Powershares QQQ Trust (NASDAQ: QQQQ) are on fire. Only the small cap sector is doing better in this advancing market and there are new price targets we can watch for in coming weeks.

The Powershares QQQ, far above their critical 61.8% retracement level, and well above the early January rally highs, are likely headed to at least the $48.25 level. This was the rally closing high achieved on August 14, 2008.

If the Q’s can surpass $48.25, look for a continued advance to the $50.55 level, the closing highs reached on June 5, 2008. This is 7.0% above Monday’s March 15 close.

Short-term support levels are at $44.82 and then $44.18.

Disclosure: 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 and 2008 bear markets, 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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