1. The up trend is still hold, but if you draw the trend line on the chart, you can see the NASDAQ-100 trend up line has broken yesterday, and today the BULLs can not get it back. A WARNING sign.
2. Now the 200MA is the support line for the BULLs, once it is broken, CORRECTION should come in, and may last untill the end of May.
3. QID's down trend has been REVERSED since yesterday, that's why I start building the QID position since yesterday.
4. QID's filled GAP down and GOLDEN crossing are very BULLISH in the chart, One more confirmation is the QID won't lose the golden crossing too quick.
I would like to make a crazy prediction, next Monday will be BLACK MONDAY. If so, then Bear's good time is in the corner for sure.
After this correction, I would say another leg up (say, DOW 10000) could be possible in July/August.
Enjoy reading and the weekend.
No comments:
Post a Comment