Market Update

I sincerely hope the bears are not burned by the mad bull's fighting back.

This morning I already warned today is a strong trend up day. So far it really is.

Morning Comments

This afternoon, I expect some pull backs, but I still keep my earlier prediction: the market will close up.

I have a feeling that the correction may end and the market may climb high from now. One reason is that QID broke down 38 now. QQQQ has broken out the down trend channel this morning, which is pretty bullish. Now only one more confirmation is needed. I am waiting for that confirmation now in order to confirm myself to buy QLD.

After the market close, I will draw more conclusions.
at 5/18/2009 01:03:00 PM

4 comments:

  1. TigerMay 18, 2009 at 1:23 PM

    The National Association of Home Builders/Wells Fargo Housing Market Index rose to 16 from 14 in April, in line with market expectations.

    ReplyDelete
  2. TigerMay 18, 2009 at 1:24 PM

    Other housing indicators have recently shown a sharp slowing in the pace of the market's decline, raising optimism a bottom was not too far away.

    ReplyDelete
  3. TigerMay 18, 2009 at 1:25 PM

    I don't believe the housing market has bottomed out, personally.

    ReplyDelete
  4. AnonymousMay 18, 2009 at 1:27 PM

    Thanks for your updating.

    ReplyDelete

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