Follow The Market( QQQQ, GOOG, SHLD)12/15/2006

1. QQQQ

Four distribution days in the past month will drive the market lower. It is a breakout failure day.



Retest of the break out line with light volume. (12/15/2006)
The downside risk is gone and it looks like market will go higher. But I'll follow it closely.(12/14/2006)
Nothing new happens so far.(12/13/2006)
Break down the red line and the party would be over.(12/12/2006)
It's now in a tight trading range. No idea where it should go next. Odds favor down.(12/11/2006)



2. GOOG

Finally it broke down the neckline with heavy volume. The next support will be at $438



It will be a big move if GOOG would break down the neck line. (12/15/2006)


3. SHLD

Will this be the next GOOG in the down side? We will see.

 

It is still in this long trading range. I will not touch it on either side now. (12/15/2006)