QQQQ
SPX
SPY
AMAZON
REIT
NLY
INCLUDE
NASDAQ
APPLE
AMBAC
MBI
ICT
CALL
EXPECTED
UNITED
FRE
SIRI
FOREX
GENERAL
CHINA
FORECAST
CREDIT
SHLD
INVESTORS
Q4
PUT
DOLLAR
WB
ILI
SAYS
MUCH
UPGRADE
CEO
SPX
SPY
NLY
INCLUDE
NASDAQ
APPLE
MBI
ICT
CALL
EXPECTED
UNITED
FRE
FOREX
GENERAL
CHINA
FORECAST
CREDIT
SHLD
INVESTORS
Q4
PUT
DOLLAR
WB
ILI
SAYS
MUCH
UPGRADE
CEO
TAG
GROWTH
CUT
CCE
LIQUIDITY
The Qs are at the daily VWAP which is also coincident with the daily pivot. Be defensive.
Qs are holding up well, they will need to get back above 2780 for another push higher to take hold.
The Qs need to recapture the 2 day VWAP (as the average long participant from yesterday and today will in a position of strength and shorts will be vulnerable) near 2755. The Advance/Decline ration is 22:6 which supports the case for continued strength, but things change very quickly in this market.
The man that makes no mistakes does not usually make anything.- Edward Phelps
Topic: TECHNICAL Tags:
Do I blow off the market tomorrow and take advantage of the recent dump or do I sit at my machine and take advantage of once in a lifetime volatility? I already know the answer...greed wins out this time. But if it keeps snowing like this I'm I will not trade five days this week.Further research increases the odds of 4 days of trading this week.
MY BOOK that was obvious.A year of 24/7 access to hundreds of trading seminars from INOTV If you are unfamiliar with the INOTV seminars click the banner below to gain free access to four seminars.
Listen to the interview/conversation I had with my friend ANDREW HOROWITZLook at the RESULTS of Andrew's money management business. Very Impressive for someone handling millions of dollars!
The Qs are probing the important 27.40 level. It is too early to call the rally from last week failed, but with the longer term downtrend, making big directional bets here doesn't make sense. A move below 27.00 would be a reason for greater concern.
The selling has been relentless this morning, at some point there will be support found (at least temporarily) and the 38.2% retracement level lines up with the 5DMA which makes ~2760 the first likely level of support before we get more directional clues. The market remains very treacherous.