The PowerShares QQQ Trust, Series 1 (NASDAQ:QQQ) is hitting a major resistance point made up of two technical analysis levels. The first is a down-sloping trend line connecting the recent highs. The second is a gap fill from June 9th, 2016. You can see both these levels on the chart below. In two weeks, the QQQ has jumped from $101.75 to over $110.00. While who knows where it will be in a month, next week the QQQ will likely pull back to $107.50 or approximately 2%. Short term traders and investors can take advantage of this.