My understand about Market

来源: amateurs 2008-04-08 19:23:35 [] [博客] [旧帖] [给我悄悄话] 本文已被阅读: 次 (695 bytes)
Weekly chart shows the QQQQ just touch the up trend line of the up zone formed with the July/06 and March/08(which just touch the 200 MA). The weekly chart also shows the $46.41 as the 38.2% correction for the down trend from Oct high to March low. Today the closing price is around the critical line ($45.4), personally I think the breakout is failed.

In addition, the SPY is overbought, and the BB line shows the possible correction.

So my personal opinion is the 4Q will re-test $44.5 area (38.2% pull back from $46.4) to form a better base before the true breakout.

The market is changing to bullish, do short period trading if you want to play short.

YMYD.

所有跟帖: 

One more pnt: tomorrow is a down day. -amateurs- 给 amateurs 发送悄悄话 amateurs 的博客首页 (18 bytes) () 04/08/2008 postreply 19:21:43

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