PineHugger, here are some views on QQQ, CREE, ELON
completely agreed on upping quality in tech holdings to bigcaps
QQQ was still somewhat volatile last week
QQQ has good money flow
QQQ has begun to bounce off midrange 50 level on RelStrenk
it has support here at 105-110
its 30MA and 50MA are right here also
it is now at lower boundary of an upchannel
I dont see ANY rounded top or imminent failure
I make little distinction between Cup&Handle, Saucer&Handle, Head&Shoulder, or W-patterns
they all signal reversal strength
they all offer clear breakout potential point value
they all identify the Handle at which breakouts are imminent
we could SURE use some reversals in MidcapLand
boy oh boy, you guys
a father could send his kid to college with the money I lost on CREE and ELON this week
some TA as I see it:
CREE is almost finished filling the shitty gap from 105-135
unfortunately, my dire outlook came to be
(I didnt forecast it, but did lay it out)
now the 18MA has intersected the 30MA, and must realign soon
but this gap will show little if any resistance
we should quickly advance with earnings approaching
the news is all good, my guess, production ramping up severely
best of all, I see a daily stochastix crossover unfolding off the bottom
it is so far below the 30MA and 50MA that explosive upside is possible from recoil
I expect to see 140's this week or next quickly
it has seen its worst, since such huge response to 105 twice
but money flow must improve, and I expect it will
ELON certainly sucked some hind tit all week into the end
money flow is scarey and negative
the huge gap from 50-80 is almost filled
I DO NOT think we are through testing the lower end of 60
but the 50MA is holding its kayones tightly here at 65
I see about 2-3 days before a daily stochastix crossover (guess)
the MA's are still properly aligned, but how long?
this puppy needs some money infusion fast
/ Jim Willie |
