Nasdaq Analysis from QQQQ - 10/03/08

This Nasdaq has gotten beat up lately thanks to the overall market and RIMM - Research in Motion earnings. However, there is a chance for a sharp year end rally given that the house passes the bill today.

Watch the QQQQ. Yesterday 10/2 it had trouble getting above $37.50....so if this level is breached, I think you could start to see a nice up move to $38.50. If $38.50 is taken out, you will start to see a major short covering rally going into earnings season.

Watch the QQQQ