NickCoulby
Long

Powershares Internet ETF biased higher

NASDAQ:PNQI   POWERSHARES NASDAQ INTERNET PORTFOLIO
$FB is mirroring the cup and handle formation of it's industry, meaning it's success/failure depends on its price action. $PNQI is looking prime for a cup and handle breakout, with RSI in the bullish zone after putting in higher lows while price was still advancing to the downside, and a bullish MACD that recently crossed the zero line. First point of resistance after breakout is $68, also want to see relative strength put in a higher high.
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