Friday, January 05, 2007

To Pressure Or Not To Pressure?

Dear Readers, This is the first time QQQQ was able to respond to the elevated pressure. Let's see if this is a one day strangle_the_shorts rally or more. At this point there is a room for 1-3 day of consolidation and move lower. Sooner QQQQ moves lower and makes one more attempt to highs next week better it will correspond to the outline in the "S(P)ELLTOP" chart. GLD could find a bottom here, but be careful with JOBS numbers today, DITTO EURO/DOLLAR and BONDS. Good Trading





1 comment:

foxfire said...

Hi Boris,

The Blog site is acting up again.

My question is that it seems to me that since the bp on the qqqq is now down to just above 20, from above 50, and the average bp has just turned down in a meaningful way, this sugest the end of the line (uptrend) for the q's on an intermediate basis. What are your thoughts? Thanks.

Fox