QQQQ did not break down and seems to have made a tail at 3:00pm, It could still surprise and spring back like a Phoenix. If short I would trail stops by 15c max. Good Trading
Although I would agree that the market has not technically broken down yet, I would say all of the signs (at least my signs) are there for an intermediate-term correction, which could start at any time, POSSIBLY TOMORROW! The NDX, which is the leader, is very very weak (down almost 2% today. What do you think now?
Although I would agree that the market has not technically broken down yet, I would say all of the signs (at least my signs) are there for an intermediate-term correction, which could start at any time, POSSIBLY TOMORROW! The NDX, which is the leader, is very very weak (down almost 2% today. What do you think now?
Dear Fox, I personally would need to see more breakdown across the board, before I would consider it done deal. For example DOW did not really budge and even SPX has only lost very little. QQQQ is the Amplitude of the market. It goes up and down around the mean and the mean is still curving up. For the first time though, I agree both 20 and 50 day EMA's seem to be turning down, while the done deal would be for 20EMA to cross 50EMA, these are good signs, but we need the followup for next two days. Let us hope we get it. QQQQ is leading but others must join also next two days. As it is we may have increased te buy pressures today. So let us see what next 2 day bring. Good Trading
3 comments:
Hello again,
Although I would agree that the market has not technically broken down yet, I would say all of the signs (at least my signs) are there for an intermediate-term correction, which could start at any time, POSSIBLY TOMORROW! The NDX, which is the leader, is very very weak (down almost 2% today. What do you think now?
Hello again,
Although I would agree that the market has not technically broken down yet, I would say all of the signs (at least my signs) are there for an intermediate-term correction, which could start at any time, POSSIBLY TOMORROW! The NDX, which is the leader, is very very weak (down almost 2% today. What do you think now?
Dear Fox, I personally would need to see more breakdown across the board, before I would consider it done deal. For example DOW did not really budge and even SPX has only lost very little. QQQQ is the Amplitude of the market. It goes up and down around the mean and the mean is still curving up. For the first time though, I agree both 20 and 50 day EMA's seem to be turning down, while the done deal would be for 20EMA to cross 50EMA, these are good signs, but we need the followup for next two days. Let us hope we get it. QQQQ is leading but others must join also next two days. As it is we may have increased te buy pressures today. So let us see what next 2 day bring.
Good Trading
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