... i see 1, 2, 3, 4 Q's at the top of this chart ... they used to call her the QUAD Q's, but they don't anymore.
"There's NO such thing as a QUADRUPLE TOP." ~ Richard Bias
Which way from here? ... choose your own adventure.
OVERALL TREND: UP
BULLISH TARGET: $76 ... measured move of $16 from the $60 breakout (green arrow) *overly optimistic
NEUTRAL: $58ish ... sideways forever (light blue) *not likely
RANGE BOX: back to the bottom of the range ... from the low 50's to the high 50's & back again.(orange arrow) *all of 2011
BEARISH BREAKDOWN: $42ish, giving back the entire 16 point Sept 10 to Feb 11 bull run. (red arrow) *be prepared
FULL DISC: Long Jan 58 CALL
PowerShares QQQ Trust, Series 1 (ETF)
(Public, NASDAQ:QQQ)
No comments:
Post a Comment