could be. they’re going to need to get started soon if they plan to take it down hard though. I could see a correction from that range, but 132 by next week still seems like a stretch
Everyone is looking for 1400, which makes me think we will fall short of hitting it. The high could already be in today? Or maybe they close about where we are today and then do a “surprise” pop higher at the open tomorrow and then tank?
There are some “stops” sitting just above 1391.39 spx from 11/9, which would be my guess for a high from this rally. Maybe pop it to 1393-1395 and then sell off without allowing the bears a chance to get short. Of course there are tons of bears waiting at 1400, which again is why I don’t think we’ll reach it.
Based on the time of day and lack of any really selling I’d have to say that they will likely chop sideways all day today making a bull flag for tomorrow. It doesn’t seem like they are going to allow it to go down any right now. That means they will keep trading sideways until the work off the extremely overbought conditions and then rally higher.
Don’t know if you are going to get 140 or not? Looking pretty weak right now at the open. Usually they pump it up another 6-8 points (or more) when they really want to rally hard. Might just rollover right at the open? We’ll know pretty quickly I’d say.
Looks like the high might be in?
QQQ Resistance levels: http://niftychartsandpatterns.blogspot.in/2012/11/qqq-resistance-levels.html
could be. they’re going to need to get started soon if they plan to take it down hard though. I could see a correction from that range, but 132 by next week still seems like a stretch
Everyone is looking for 1400, which makes me think we will fall short of hitting it. The high could already be in today? Or maybe they close about where we are today and then do a “surprise” pop higher at the open tomorrow and then tank?
There are some “stops” sitting just above 1391.39 spx from 11/9, which would be my guess for a high from this rally. Maybe pop it to 1393-1395 and then sell off without allowing the bears a chance to get short. Of course there are tons of bears waiting at 1400, which again is why I don’t think we’ll reach it.
‘yeah, going t likely short around 140, but that 132 target seems extreme. for a next friday target anyway
Skynet, are you reading my posts? I’m bullish… you know what to do now! (he he he)
Based on the time of day and lack of any really selling I’d have to say that they will likely chop sideways all day today making a bull flag for tomorrow. It doesn’t seem like they are going to allow it to go down any right now. That means they will keep trading sideways until the work off the extremely overbought conditions and then rally higher.
Don’t know if you are going to get 140 or not? Looking pretty weak right now at the open. Usually they pump it up another 6-8 points (or more) when they really want to rally hard. Might just rollover right at the open? We’ll know pretty quickly I’d say.
waiting for 140 to go short again
APPLE Trend update: http://niftychartsandpatterns.blogspot.in/2012/11/apple-trend-update_20.html