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Re: [RT] QQQQ has a bearish Advanced Block candlesticks pattern



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Ben:

The QQQQ is at a price objective and should retrace from here or at least form a congestion area.  To start a retracement price would have to hit 44.80 and if that is the case than 43.30 would be the target for that move. That would also be the entry price for a major retracement.  Until then I still have an upside target of 46. 

I still have upside pressure upon price and even though it is very over extended it is still up,  That may change with tomorrows close. 

Have a good week
Ira
www.thetradersguide.net


  ----- Original Message ----- 
  From: Ben 
  To: realtraders@xxxxxxxxxxxxxxx ; ntt-list@xxxxxxxxxxxxxxx ; astrofin@xxxxxxxxxxxxxxx 
  Sent: Sunday, January 14, 2007 7:05 PM
  Subject: [RT] QQQQ has a bearish Advanced Block candlesticks pattern




  Sent: Sunday, January 14, 2007 4:51 PM
  Subject: [AAQuants] QQQQ has a bearish Advanced Block candlesticks pattern


  The Nasdaq was the last one among three major indices to reach the long-term uptrend resistance line. QQQQ daily and weekly Lane's Stochastic are strongly overbought. MACD has bearish divergence.

  http://www.thegreedytrader.com/QQQQTrendAnalysis.aspx?p=118



   


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