A New Six-Year High - A wave of stronger-than-expected earnings helped fuel a brief move above the level where the QQQQ was trading prior to February's sharp drop. As you can see from the chart below, Monday's bullish move above $45 set the tone for the remainder of the week, and it was interesting to see how the top of the gap acted as support when the bears tried to respond. Many traders will watch for the $44.80 level to provide short-term support in the event of a more significant pullback. Friday's bullish price action briefly sent the QQQQ to a new six-year high, which will cause many traders to watch closely to see if the bullish momentum can continue.