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Ben:
One other thing. I have a very long term target price for the QQQQ of 51.50. Granted it is only a 60% probability, but it is still there. Price would have to drop 15 points to void that move.
Ira
Ira.
----- Original Message -----
From: Ira
To: realtraders@xxxxxxxxxxxxxxx
Sent: Sunday, January 14, 2007 11:17 PM
Subject: Re: [RT] QQQQ has a bearish Advanced Block candlesticks pattern
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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