QQQQ recap as of 27Nov06.
OE Pivot, 44.30 (up 6.5% YTD)
OE High, 44.86 (up 1.3% for the DecOE)
OE Low, 43.64 (dn 1.4% for the DecOE)
Total Spread, 1.22 (2.8%)
The Q's have tagged the R1 (44.85), and retreated quickly back to within .08 of the OE Pivot, 44.30? With the OE Pivot NOT being violated on a closing basis for the first 4 trading days of 19 total, we have to maintain an upward bias. Add a higher High and Higher Low for those first 4 days and one would be hard pressed to find a case against higher prices (bar-ing TA, Charts, Fibs & lies of course)?
The Q's have tagged the S1(43.75), and completed a + and - 1.25% Up/Dn pattern. We should find support over the next couple days as seling pressure abates? With a 401k hand-off scheduled for 30Nov/01Dec we can expect prics to back-test hte recent highs of 44.86 and maybe even exceed that high by a few pennies?
This Year-End Markup phase should continue through 31Dec06 as 401k, Pension, and bonus monies come pouring in, hence, down action will be followed by up action as prices finish forming a Distribution "TOP"?
We'll continue to go Long at or near the S2(43.19), and Short as prices attempt to breach the R2(45.41)?
Good day.
And for your viewing pleasure, here's the OEPM 4cast-r numbers as of the close 27Nov06?
Actual
24-Nov 44.40 44.86 44.38 44.65
27-Nov 44.52 44.61 43.64 43.66
4cast
28-Nov 43.79 43.99 43.45 43.45
29-Nov 43.40 43.61 43.29 43.34
30-Nov 43.51 44.28 43.51 44.23
1-Dec 44.12 44.75 44.05 44.40
4-Dec 44.71 44.97 44.41 44.46
5-Dec 44.45 44.80 44.22 44.62
6-Dec 44.71 44.87 43.80 43.85
7-Dec 43.88 44.30 43.77 44.11
8-Dec 43.74 44.53 43.48 44.38
11-Dec 44.14 44.40 44.03 44.24
12-Dec 44.57 44.70 44.30 44.63
13-Dec 44.63 44.97 44.60 44.85
14-Dec 44.86 45.07 44.49 44.69
15-Dec 44.70 44.82 44.12 44.26
