2007-2-27 2007-2-27 All three of the ETFs we follow have move higher since last commentary. QQQQ and SMH have been able to stay above crucial support levels and IWM has broken above its two month resistance in the 79 area.We believe it is possible for QQQQ to fall one more time to the 43.50 area. This would set up the possibility of an inverted head and shoulder formation. The first shoulder being formed around the 22nd of January, the head around the 26th of January, and the second shoulder within the next few days. If QQQQ does fall from here, we believe support will be found in the 43.50 area. The other possibility is that QQQQ will break above its resistance in the 44.50 area (indicated on the chart) and move up to its old highs from the middle of January (around 45.50). 73148 text/html http://www.nasdaqwizard.com/MidPics/mid020507.html 1.0 EN index,follow All three of the ETFs we follow have move higher since last commentary. QQQQ and SMH have been able to stay above crucial support levels and IWM has broken above its two month resistance in the 79 area. text