The market correction continues

The market correction continues

Here is the guide line - down trend line- in the NASDAQ daily chart. Unless the newly formed down trend line is broken out, stay in the market as a bear is safe play for the game now. I have increased my QID target to 35 last Tuesday. Today QID almost hits 35. Isn't it wonderful ! Here is my call on QID last Tuesday. When we are looking back now at the chart, isn't it wonderful ?


Today the moving pattern of QID makes me very happy. I am also very glad last Tuesday I have spotted the beautiful chart setup of QID - A beautiful chart set up - I hope you didn't miss the post and the QID train. However, don't be greedy !

Some other noticeable information from the chart:

• RSI broken down 50
• last week's 3 day up channel is broken down with a gap

Again, the conlcusion is the pulling back may continue until the newly formed down trend line is broken out successfully. being alert. But I don't think now heavily shorting the market is wise because I still think another leg up is still very possible before we really heading down.

Anyway, keep watching the newly formed down trend line, as marked in the chart.