Tuesday, November 28, 2006 10:25:40 PM
QQQQ: Wonderbuy, good call on Q support 43.36 which is a holygrail dma, and also a breakout support on daily.
Glad to hear that you had a 50% gain on your option play which you told me yesterday.
Qs is still on uptrend line, no confirmation for a ST top. Month-end and 1st of month market up favors the bounce from the yesterday sell-off as markets consolidated today.
However, I see, Breadth Warning Signs for a pull back as I commented before. I also mentioned favorable Seasonality, but let's not trust seasonality as I said the same thing during Summer and Sept/Oct for NOT-as-usual-Seasonality market price actions.
Qs shows intra - daily negative divergences confirming breadth negative divergences across major market internal.
Q resistances, 44 - 44.22 on intra day charts.
As you see, all daily charts' indicators are showing, breaking up trend, e.g. MACD; hence, add more warning for a pull back.
Best Wishes
Glad to hear that you had a 50% gain on your option play which you told me yesterday.
Qs is still on uptrend line, no confirmation for a ST top. Month-end and 1st of month market up favors the bounce from the yesterday sell-off as markets consolidated today.
However, I see, Breadth Warning Signs for a pull back as I commented before. I also mentioned favorable Seasonality, but let's not trust seasonality as I said the same thing during Summer and Sept/Oct for NOT-as-usual-Seasonality market price actions.
Qs shows intra - daily negative divergences confirming breadth negative divergences across major market internal.
Q resistances, 44 - 44.22 on intra day charts.
As you see, all daily charts' indicators are showing, breaking up trend, e.g. MACD; hence, add more warning for a pull back.
Best Wishes
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