Replies to post #25888 on Short Term Trading Member Forum

[SyndicateTwo]

I was just looking at this chart again and it appears as if the QQQQs will most likely at best trade to the 38% level which just happens to perfectly coincide with the Oct and Nov lows in which the Nov low was a retest of the Oct low. So, should be the area to look for for your maximum pain threshold on the downside.

[pegwatcher]

Good post, Syndicate. I am in agreement on your short term expectations, fwiw.

Longer term I am leaning towards a larger correction (4 year)but I wouldn't place a large bet on it's magnitude.

Thanks for sharing.

[GLENO34]

Syndicate...You may be 100% correct but looking at the Slo Stoch's, there could be another 200 to 300 drop before it bottomed..and it could stay on the bottom for a long time...