QQQQ Trade Entry Update QQQQ Timing.
by ShepWave.com
Posted: 4/7/2006 10:52 EST
The 1 minute chart of the QQQQ below shows that the Q's may be due for a bounce. Notice that we could have a five wave decline from this morning's continued 'throw over' of the ending diagonal pattern as shown in previous updates (BLOG TRADE). 42.90 would be a potential up side target for agressive traders. If today's down trend is broken twice you could FLIP this position.
Mid to Long term traders could maintain the current short side trade.
Keep in mind that 42.90 could be an upward target area. .. Also as mentioned in previous BLOG updates. A break of $42.38 is needed to strengthen longer term bearishness.
Cautious traders could use a trailing stop/loss to LOCK IN profits.
This is the LAST Abbreviated UPDATE ON THE BLOG... All further analysis will be in the Regular Updates for Subscribers ONLY.
Trading opportunities for all the indexes. go to www.shepwave.com for updates.
| Reference: Shepwave.com is a technical analysis site for the Major U.S. stock indexes. We use Elliott Wave theory along with our proprietary indicators to give analysis for the Dow Industrials, Nadaq 100 and S&P 500 indexes. We specialize in trading the QQQ and DIA. |
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