Wednesday, September 26, 2007 9:03:29 PM
Technically, QID is now targeting 34 as it is breaking below LT Support. This will be confirmed with SPX 1555 breakout as SPX is used general market performance.
~~~
My LT target QID 39 is reached today; however, the price action is showing weakness breaking below LT support. Technically it is now targeting near 34.
The break down of QID below LT support is of course confirming QQQQ breakout; the formation, as we can see on weekly QID chart, is suggesting much lower next LT target. Market breaking out from SPX 1555 and DOW 14000 will be confirmation.
As noted markets are at major critical juncture and it seems that most of traders ( guesstimate of 90%) are looking for a pull back near at SPX 1555 after EOM/EOQ action.
As for breakout of LT resistance above SPX 1555, my view is that it will breakout going into year-end. To be conservative, I will be reassessing market actions near or at SPX 1555 to confirm whether we break out at this up wave for the next couple of weeks move.
We will be going into earning season starting next month; so, we will see volatility for individual stocks.
Posted by: __1Best__
Date:8/14/2007 3:44:45 PM
Post #of 2990
Now go long since a major short squeeze will come along soon.
Fire work to upside.
Remember, my LT QID target is 39.
~~~
My LT target QID 39 is reached today; however, the price action is showing weakness breaking below LT support. Technically it is now targeting near 34.
The break down of QID below LT support is of course confirming QQQQ breakout; the formation, as we can see on weekly QID chart, is suggesting much lower next LT target. Market breaking out from SPX 1555 and DOW 14000 will be confirmation.
As noted markets are at major critical juncture and it seems that most of traders ( guesstimate of 90%) are looking for a pull back near at SPX 1555 after EOM/EOQ action.
As for breakout of LT resistance above SPX 1555, my view is that it will breakout going into year-end. To be conservative, I will be reassessing market actions near or at SPX 1555 to confirm whether we break out at this up wave for the next couple of weeks move.
We will be going into earning season starting next month; so, we will see volatility for individual stocks.
Posted by: __1Best__
Date:8/14/2007 3:44:45 PM
Post #of 2990
Now go long since a major short squeeze will come along soon.
Fire work to upside.
Remember, my LT QID target is 39.
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