QQQ’s at All-Time Highs

The PowerShares QQQ (QQQ) traded to an all-time high of $153.85 following a backtest towards $153 on the open. We mentioned continued closes above $152-$152.25, and current support, could lead to a run towards $154.50-$155 over the near-term. A close below the former would be a slightly bearish development. RSI is nearing June resistance at 75 with a push towards 80 and May resistance coming on continued strength.