- Technical Market Commentary -

September 16, 2010 (FinancialWire) (By Frank Kollar) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — The ETF Powershares QQQ Trust (NASDAQ: QQQQ) has had a good several weeks, but it is up against strong resistance in coming days. The Q’s, which closed at $47.75 on Wednesday, September 14, now faces the 61.8% retracement resistance level at $47.81. That level is where most rallies hit a wall if they are ever going to.

The Q’s also have to deal with the S&P 500 Index (SPX) which has yet to break above the prior correction rally high. If SPX cannot make a decisive close at a new rally high, then the Q’s will follow them down.

The Q’s need a strong close above $47.81 to continue their rally. If not, a pullback will be the likely result.

(Go to http://www.financialwire.net/2010/04/22/about-kollar/ for more about Mr. Kollar, and go to http://www.financialwire.net/?s=kllrfby for more of Kollar’s commentaries.)

**Today’s FirstAlert(tm) is brought to you by Marshal Shichtman & Associates, P.C. (see below).**

The FirstAlert(tm) “Money Index” is an indicator of the depth of market direction or indirection. While not always including the same stocks, the combined NYSE, AMEX and NASDAQ 25 most actives and combined NYSE, AMEX and NASDAQ greatest percentage losers and greatest percentage winners (weighted against pure monetary loss/gain) indicate the direction in which the mass of money is flowing, as well as the general focus of the market. Last session’s most actives showed 16 advancers versus 9 decliners. Volume leaders were led by the SPDRS S&P 500 Trust ETF (AMEX: SPY) (streaming research for SPY available at http://investrend.stocksmart.com/ri/toc?tid=34430), Citigroup, Inc. (NYSE: C) (streaming research for Citigroup available at http://investrend.stocksmart.com/ri/toc?tid=7921), Yahoo, Inc. (NASDAQ: YHOO) (streaming research for YHOO available at http://www.investrend.stocksmart.com/ri/toc?tid=18448), Bank of America Corp. (NYSE: BAC) (streaming research for BAC available at http://investrend.stocksmart.com/ri/toc?tid=8456), Microsoft Corp. (NASDAQ: MSFT) (streaming research for MSFT available at http://investrend.stocksmart.com/ri/toc?tid=4652), Cisco Systems, Inc. (NASDAQ: CSCO) (streaming research for CSCO available at http://investrend.stocksmart.com/ri/toc?tid=1723), the Financial Select Sector SPDRS ETF (AMEX: XLF) (streaming research for XLF available at http://investrend.stocksmart.com/ri/toc?tid=1026233) and Sirius XM Radio, Inc. (NASDAQ: SIRI) (streaming research for SIRI available at http://www.investrend.stocksmart.com/ri/toc?tid=9201).

The FirstAlert(tm) Economics Calendar lists Producer Price Index (PPI) for August (8:30 am ET); Initial Jobless Claims (8:30 am ET); International Capital Flows for June (9 am ET); Philadelphia Fed Survey for September (10 am ET).

The FirstAlert(tm) Events Calendar showcases APOL, DV, CECO at the BMO Capital Markets Back to School Education Conference; CAVM, ARST, BCSI at the G7: Think Equity's Growth Conference; RMBS, PBI, BBBB at the Deutsche Bank Securities Inc. Technology Conference; T, CBS, TWX at the Bank of America Merrill Lynch Media, Communications & Entertainment Conference; XOM, APA, HAL at the Barclays Capital Energy/Power Conference

The FirstAlert(tm) Earnings Calendar highlights BlueBay Asset Management (BBAY.L) Preliminary 2010 Earnings Release; Nobel Learning Communities (NLCI) Q4 2010 Earnings Release; Poweo Paris La Defenxe (ALPWO.PA) Q2 2010 Earnings Release; Tsuruha Holdings, Inc., SAapporo (TSUSF.PK) Q1 2011 Earnings Release.

FirstAlert(tm) Website of the Day: http://www.celebratelove.com/stepfamilyday.htm

Quote of the Day: "There is no such thing as an inevitable war. If war comes it will be from failure of human wisdom." — Andrew Bonar Law (09/16/1858 – 10/30/1923), British Prime Minister.

Word of the Day: arch \AHRCH\, adjective: 1. Cunning; crafty; sly. 2. Obsolete. A person who is preeminent; a chief. noun:1. A curved masonry construction for spanning an opening.

In context: Janney's performance is arch and knowing, as she mocks the mother who dispenses anti-depressants to her kids like candy and eventually tells them, "I lied to you because I love you." — Bret Harte, "’Life During Wartime' Review," Danville Express, August, 2010

(Arch originally meant "chief," as in an archangel, but took on the sense of "mischevious" in the 1660s.)

Today is: Trail of Tears Commemoration Day

Happy Birthday: 1386 – King Henry V of England, (d. 1422); 1875 – James C. Penney, American department store founder (d. 1971); 1925 – B. B. King, American musician; 1956 – David Copperfield, American magician; 2005 – Princess Jalilah bint Ali, of Jordan.

Today in History: 1620 – Mayflower starts its voyage to the North America; 1920 – The Wall Street bombing: a bomb in a horse wagon explodes in front of the J. P. Morgan building in New York City – 38 are killed and 400 injured; 1992 – Black Wednesday: the Pound Sterling is forced out of the European Exchange Rate Mechanism by currency speculators and is forced to devalue against the Deutschmark.

==========

**FirstAlert(tm) is underwritten by Investrend Communications. Today’s Investrend featured partner is Marshal Shichtman & Associates, P.C. –  Mr. Marshal Shichtman has served as council for Investrend Communications in various capacities since 2001. Mr. Shichtman is now collaborating with Investrend to provide a unique independent equity research product, which includes a specialized component particularly focused on assistance in best practices, filings, reporting and good governance. For a preferred introduction to Mr. Shichtman and/or Investrend’s specialized program, write to resources@investrend.com with “Shichtman Introduction” in the subject line.

==========

FirstAlert(tm), published exclusively by FinancialWire(tm), was created by Gayle Essary, founder of Investrend Communications, Inc., parent of Investrend Information. The opinions expressed in FirstAlert(tm) do not necessarily reflect the opinions of Investrend or of FinancialWire(tm).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate, courtesy of Stock Smart (at http://investrend.stocksmart.com/ss/html/hpcompany.html). Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” webpage (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Disclosure: Frank Kollar’s Fibtimer.com Stock Timing Strategy holds a position in the Powershares QQQ Trust.

Copyright © MMX, FinancialWire(tm); All rights reserved.

[ssryrsyr] [frstlrtrlts] [frstlrtdlycmmt] [cmmtry] [mrktqr] [tchnlf] [anlytcl] [drtjby] [kllrfby] [exctrdfnd] [idxsxdi]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.