SPDR S&P 500 (SPY)

[learningboutinv]

Fox, I was planning on getting out of my QLDs before the bell, but I guess I was a little too greedy, it missed my sell limit by .09. I dropped the sell order from my initial sell price of $74.45 near the 200dma earlier this morning. Anyhow, your cycle work looks really interesting.

The problem is I'm not sure if we are carving out a pattern on the $NDX that is similiar to the Jan/Feb 08 time frame or the Mar/early April 08 time frame. We've been churning for almost 1 month and it looks like we're making a rounded bottom on the $NDX/QQQQs.

Personally I am leaning towards a bottom, we just need to close over the downtrendline on the QQQQs ~45.50-45.60 or $NDX ~1850-1855.