solomare
APPRENDISTA TRADER
pug un pò troppo rialzista ..ma possibile anche se divergo su molte alcune cose vabbè suo conteggio QQQQ e suo commento concordo sulla trappola, per orsi...QQQQ suo esssepi mio come al solito purtroppo future plottato sul vecchio indice fangul
I was looking at the QQQQ’s today and I noticed it’s relative strength when compared to the SP-500, DOW-30, and Russel-2000. What jumped out at me is that this entire move down since the April high looks like a contracting triangle. And if you go back to the November 2008 low on the QQQQ’s, then you can see that the QQQQ’s are still well within a very nice parallel bull market channel. This recent drop form the April high to the May low could just part of a wave [4] a-b-d-d-e triangle. This a-b-c-d-e triangle would alternate with the wave [2] a-b-c Zig-Zag back in the early part of 2009. I get a wave [5] triangle target of 45+9 = 54 for the QQQQ. This should be acheived in late summer 2010. We need to watch for a break above 46 to confirm that the e-leg of the triangle is complete here around 44. This new QQQQ chart would argue that primary wave 1 (P1) of the new bull market is not over yet and we have a long way to run. This whole move down of the April high would be a great big bear trap and the next move higher will squeeze the bears yet again. Food for thought as we search for a tradeable bottom in the next few days.
QQQQ Daily
I was looking at the QQQQ’s today and I noticed it’s relative strength when compared to the SP-500, DOW-30, and Russel-2000. What jumped out at me is that this entire move down since the April high looks like a contracting triangle. And if you go back to the November 2008 low on the QQQQ’s, then you can see that the QQQQ’s are still well within a very nice parallel bull market channel. This recent drop form the April high to the May low could just part of a wave [4] a-b-d-d-e triangle. This a-b-c-d-e triangle would alternate with the wave [2] a-b-c Zig-Zag back in the early part of 2009. I get a wave [5] triangle target of 45+9 = 54 for the QQQQ. This should be acheived in late summer 2010. We need to watch for a break above 46 to confirm that the e-leg of the triangle is complete here around 44. This new QQQQ chart would argue that primary wave 1 (P1) of the new bull market is not over yet and we have a long way to run. This whole move down of the April high would be a great big bear trap and the next move higher will squeeze the bears yet again. Food for thought as we search for a tradeable bottom in the next few days.
QQQQ Daily
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