Monday, November 27, 2006 4:46:33 PM
QQQQ: Hi Wonderbuy, as we discussed a pull back during the last few days, we have seen a first meaningful correction day, a Reversal Day, which I was looking for a confirmation since my market pull back warning posts during the last week. While I will examine today's market action, the volume and magnitude of profit taking certainly fits "Confirmation" for pull-back characteristics, i.e. A/D was negative 1:4, high volume sell-off, up to 2.5% sell off.
As shown on 60m QQQQ chart, market has retrieved from the upper resistance, closing at the lower TL. As we discussed, market is certainly due for a meaningful pull back. More to follow...
I am not sure how everything will work out and where to post our market comments in the future, but I hope that it is alright with you that we post our market comments here as greenstreet stated. We will be flexible as to following rules and guidelines, so please, inform me when you would like to any time either on the board or by sending me emails.
Thank you again for your understanding and for your patience.
Best Wishes
As shown on 60m QQQQ chart, market has retrieved from the upper resistance, closing at the lower TL. As we discussed, market is certainly due for a meaningful pull back. More to follow...
I am not sure how everything will work out and where to post our market comments in the future, but I hope that it is alright with you that we post our market comments here as greenstreet stated. We will be flexible as to following rules and guidelines, so please, inform me when you would like to any time either on the board or by sending me emails.
Thank you again for your understanding and for your patience.
Best Wishes
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