2007-2-27 2007-2-27 Just like the past several weeks, the stock market has continued its sideways action. It is possible that we are beginning a new run in QQQQ and SMH, but IWM has a bearish looking pattern at this point.QQQQ has crossed above its 50 day moving average. The close above the average last Thursday was also on high volume, which we view as bullish. The ETF stayed above the moving average the last two trading days with little upside momentum. This action is quite typical after such a break. It is possible that a cup formation is being formed. The beginning of the cup would be December 18th, the bottom being the end of December, and the recent action would be the 73854 text/html http://www.nasdaqwizard.com/MidPics/mid010807.html 1.0 EN index,follow Just like the past several weeks, the stock market has continued its sideways action. It is possible that we are beginning a new run in QQQQ and SMH, but IWM has a bearish looking pattern at this point. text