Positive Earnings Fuel a Move Higher - In our last report, we mentioned that the QQQQ was trading near the short-term resistance of the $45.50 level. As you can see from the chart below, Monday's bullish move beyond the resistance set the tone for the remainder of the week as traders priced in better-than-expected earnings. Many traders will watch for the previous resistance to become an area of support in the event of a pullback and it will be interesting to see if the remaining announcements will continue to provide the bulls with the fuel they need for the rally to continue higher.