Thursday, March 13, 2008

Market is about to change

Catchy title - will get to the point right away.

First and foremost - if QQQQ will manage to close tomorrow above 42.30 area - there will be either
1. Rally and change of trend - up it goes
or
2. Period of consolidation, with trading range contraction, less wild swings.
Above is very likely to happen

Now, some speculation what is going to happen tomorrow.
Before report market will be trading up in pre-market
After report it will dive - if it will - I will close ALL short positions
then sometime during mid-session...and this is what I will be watching - if market will reverse and start moving up - then - we have got ourselves some changes.

I've become aware of possible change 2 days ago, below is what I posted on sectors on March 11th:
***start quote***
"Brand new ( well, it was new yesterday ) BUY signal for HOMEBUILDERS - not saying it is a bottom - it is a trading opportunity

NASDAQ 100 tech components - fresh BUY signal
same for NASDAQ 100
same for NASDAQ BANKS
same for S&P500
same for SIC-3674 Semiconductors and Related Devices ( what a surprise )

NASDAQ BIOTECH is still in the dog house ( late to short, don't buy )
same goes for RETAIL

NASDAQ FINANCIAL - amazing accuracy of 3 days old BUY signal"
***end quote***

Tonight I've noticed huge number of buy signals in multiple sectors ( even health care - surprise - surprise)

Have not finished digging yet, will continue to research - for now - here is a chart of QQQQ with (might change tomorrow ) BUY SIGNAL



It is all about making money and be on the right side of the market

1 comments:

Danny said...

Yo David, keep up the good work.
--Danny (the dude who posts all the time on tradeking)