A move above this week's high of 57.90 in the Qs will trigger a 3 week buy signal. A move above 58.36, the March high, will trigger a weekly/daily trend buy signal. What is truly important to note is that the Qs held support at the 2007 high of 55.07. There was one weekly close below that level to get the bears' hopes up, and then the market reversed higher. I would not be surprised to see a pullback over the next week or two, which should give an opportunity to go long for the ride into the May/June high.
While there may still be a possibility from an elliott wave point of view for the correction to return, almost all other technical and trend following indicators are pointing up. Even the negative divergence MACD sell signals from January and February were negated yesterday as the MACD rose back above the zero line to put that indicator in neutral. I say neutral because the daily 50ema is still flat to down for the Qs. A pullback to the 50dema with a hook buy or outright buy signal in the MACD would be an excellent long entry. The fib targets on the Qs are 62.30 and 64.44.
A better choice of trading vehicle may be the IWM ( or UWM) as its relative strenght is greater than the Qs at the moment.