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$QQQ rally intact now above resistance 06-05-2014

Long
Invesco QQQ Trust, Series 1 (NASDAQ:QQQ)  
positionforex  
NASDAQ:QQQ   Invesco QQQ Trust, Series 1
QQQ nasdaq100 Technical Analysis Stochastic Oscillator Trend Lines
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qqq nasdaq100 technicalanalysis stochastic trendline
While the stochastic remains heavily overbought (which it can for extended periods of time) price broke through resistance to make new highs. the bearish hanging man formation was rejected and we have new highs. While price may retreat a bit from this level the channel higher is intact. Prices will continue north over the medium term.

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