2007-2-27 2007-2-27 Today's move higher was a bit of a surprise and leads us wondering if the pullback has started. The pullback in SMH has been strong and today's action did little to harm the recent downward move. QQQQ has moved to last week's resistance, suggesting a possible breakout to the upside. IWM is still in its downtrend, but this could easily change, as soon as tomorrow. Let's look at the three charts in more detail.You can see how QQQQ began its pullback to the uptrend line last week, but failed to hit it. Today's reversal looks more like the continuation of the recent uptrend, as opposed to a counter-trend move against last week's fall. A counter-trend move would most likely not have reached last week's resistance and would not have been in one powerful day on heavier volume. 97654 text/html http://www.nasdaqwizard.com/MidPics/mid102306.html 1.0 EN index,follow Today's move higher was a bit of a surprise and leads us wondering if the pullback has started. The pullback in SMH has been strong and today's action did little to harm the recent downward move. text