Monthly Archives: September 2011

A Short QQQ Pattern With a 5% Profit Target

As of the close of yesterday, Thursday, September 29, 2011, a price pattern of two lower lows and two lower highs was formed in QQQ. In addition, the close of yesterday was lower than the low of the day before … Continue reading

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S&P 500 Sideways, Choppy Price Action

S&P 500 has been moving sideways in a 100 point range for almost two months. This choppy market action in a narrow range has been the cause of severe problems to some trend followers. There are conflicting technical signs about … Continue reading

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ETF Technical Analysis – Week of September 26, 2011

As of the close of Friday, September 23, 2011, SPY, QQQ, GLD, SLV, FXE, USO and DBC are on a short-term downtrend. TLT is trending up in all three timeframes. There are significant overbought/oversold conditions under development. Specifically, SLV and DBC are oversold … Continue reading

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ETF Technical Analysis – Week of September 19, 2011

As of the close of Friday, September 16, 2011, SPY and QQQ are on a short-term uptrend, GLD and SLV are on a short-term downtrend, TLT is on short-term correction mode, and FXE, DBC and USO are moving sideways. There … Continue reading

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A High Probability QQQ Pattern With a 6% Profit Target

As of yesterday’s close a symmetric price pattern of two higher closes with the last close higher than the high of the previous day was formed in QQQ. Historical analysis shows that this is a high probability pattern with a … Continue reading

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TLT Possible Correction to Close Gap

The rally in bond prices on Friday, September 2, 2011, caused a gap in TLT daily price chart of $1.68. This is a sizable gap and it looks like that the market will move to close it before it attempts … Continue reading

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P-Indicator Results for QQQ and SPY Point to a Negative Short-Term Bias

As of the close of Thursday, September 8, 2011, p-indicator results for SPY and QQQ show a negative short-term bias for 3%, 4% and 5% price envelopes. Share

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