The Pause Which Refreshes

Indices paused yesterday, which is frankly a relief. The last thing we needed at this point is for the bulls to get overly anxious and run prices so high that shorts once again gain an advantage. What we would like to see here, and what we expect, is a little base building. The QQQQ charged straight off of $38 without a pullback. Sideways trading, or even a pullback to support at $39.50 would give the QQQQ a strong base for a launch higher. There are a lot of traders and investors on the sidelines now that did not anticipate this move, so expect the dips to find quick support.