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Post# of 51804
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frenchee

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frenchee

Re: koke post# 4095

Saturday, 10/09/2004 1:20:53 PM

Saturday, October 09, 2004 1:20:53 PM

Post# of 51804
koke

Here's an alternative view for next week...

With Friday's close, QQQ went on a intermediate-term sell signal using a weekly-data compression and the RSI. Note the duration of the down periods have been decreasing during corrective waves two and four of the cyclical bull phase we are currently in. If the current decreasing corrective pattern continues, then 3-4 more weeks to the downside before an intermediate-term bottom.

http://img6.imgspot.com/u/04/282/16/QQQweeklyRSI100804.jpg
http://img6.imgspot.com/u/04/282/17/QQQweekly100804.jpg


Below is the shot-term view using daily data. With the weekly turning to a sell, the odds of gap support holding around 35.20 have decreased. Next stop appears to be around 38.2% retracement level.

http://img6.imgspot.com/u/04/282/17/QQQdaily100804.jpg


Regards,
frenchee

#board-4258 TSP Trend Timing: EFA (I), TLT (F), SPY (C), and VXF (S)

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