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January 29, 2007
Broadening Pattern.
In This Issue:
I. Market Commentary
II. Charts
---- QQQQ (Nasdaq 100)
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I. Market Commentary
There is a ton of news this week that can / will certainly drive this market in either direction. Most importantly an FOMC meeting on Wednesday to see if Interest rates will be cut any time soon.
For us, recently we were stopped out of our long position with a small loss. The Q's are now sitting on a potential support.
Unfortunately for the Q's any bounce will be looked at from many as an opportunity to short this market as it appears to be in a Broading Top pattern which should measure back down to ~ 41. This can be seen on the 3 charts we feature. (D,W,M)
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II. Market Charts
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Readers are urged to consult with their own independent financial advisors with respect to any investment. All information contained in this report should be independently verified. Please note that we are taking no compensation of any kind and will never take any compensation from any companies that we mention in this report.
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