Bankswerethesectorledthe2007/2007amdearly2009downsidemoves,andnowBanksareleadingagain.$BKXtouched/broke200ema.andIexpectSPXwillfollowbeforethiscorrectioncomplete.
ThenextidthecurrentSPXdailychartMondayIthinkthelowwouldbearound1030
andhigharound1045/1047.AnotherpossibilityisSPXbreakdownbelow1025andthenitopensthechancefor1000.
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FromTheWebsite:http://www.qqqinvestment.com/Main/
GroupPaltalkRoomforSundayTAclasses:QQQFutureTradingRoom
http://express.paltalk.com/index.html?gid=1185986220
NextSundayTAClass11/1,8AM-10AMPacificTime
Topic
(1)DiscussProbingBars(BackDoorTrades?)
(2)CashandFutureMarketOverviewForNextWeek[
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Today'ssellinggot10pointemorethanIexpectedandIhavetoadjusthighofrestof2009to1060from1080.Ithinkweareinamajordownwave(1)andsofarwearestillwithinthesubwave3ofthisdownsidewave1.
WewillseebounceMondayBUTthebouncewillbeshortlived.Shorttermdownsidetarget1000,afterthatwewillseeasizablereversalto1060tocompletethis4of(1),and5of(1)couldtakedownto970/950.Afterthat,anendofyearruncanagainre-visit1060t...[
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ThisisspxchartIthinkfortherestofyear,Iwilladdmorecommentslaterwhenhavetime
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