Mysty, i've been looking this over, and i don't have a clue what's going to happen next.
Here's what i see:
Today looked like we had some kind of consolidation. The 60min bar chart is looking a little less oversold.
stockcharts.com[w,a]eacayymy[p][vc60][iUb14!La12,26,9!Lh14,3]
Double top for QQQ at 44 occured middle of june and start of august. This should be a good resistance level.
stockcharts.com[w,a]dacayymy[d20010601,20010901][p][vc60][iUb14!La12,26,9]
The put/call ratio hit .95 and closed as .80 today. That could mean more upside, in the next couple trading days.
stockcharts.com[w,a]daoayymy[p][vc60][iUb14!La12,26,9!Lh14,3]
The VIX rose slightly to 25 and change. We are close to short term top (vs. a trading high), but the VIX may need to fall to 23 first.
stockcharts.com[w,a]daclyymy[p][vc60][iUb14!La12,26,9!Lh14,3]
My current guess is that we rally friday or monday to 44.5, fail and fall into the low 40s. |
