Does anyone notice that QQQQ daily chart shows a new uptrend from its 52 weeks low of $25? The down trend has ended as QQQQ broke higher to recent high of 30.83(Above 50 SMA=30.50). Price close on Friday above 10 & 20 SMA. AAPL also shows the the strongest chart. Its downtrend ended at 52 weeks low=$79.14. New uptrend is also starting. Now trading above 10, 20, 50 SMA-daily. GOOG too. New uptrend from 52 weeks low of 247.30. Now Its trading above both 10 & 20 SMA-daily. Its going to cross above 50 SMA=323.47 for sure in the near future. Judging from these Nasdaq leaders, I'd say Nasdaq will be heading higher near term. 50 SMA is the resistance. Though I am not surprise to see most Nasdaq leaders will eventually trade above 50SMA-daily. Next week with GS earning and FED meeting, buying on weakness is a wise move than shorting because we will move higher for the next coming weeks. Buying at pull back; My entry point=20 SMA daily chart; Target at/near 50 SMA as I don't want to stay in any positions for too long. I'd appreciate any sound intelligent comments. Thank you.