Survey: Price of QQQ by April 15

[soylent]

So far, we are 0 for 3... Last week we had 1 down, 1 break-even, 1 rally and 1 strong rally...

So, where do we go next week?

Initially I said we'd pop up then fall all week. That was pretty much what we did. I also said we'd trend-down for the next two weeks. I'd like to change that.

I believe next week will be a strong rally. Probably end the week near the previous 52-week high around $38.59. It's hard to say exactly where but I believe we get close to a touch of that number. I don't think we will hold it. That will set us up for the next week which will touch / break that number and enter a wave 2 selloff to a 50% retrace.

This retrace will take just 2-3 days and be a nearly 7% drop. Seems outrageous -- but, it could happen.

Then, we rally out of there.

OK, any more view points?

-c

[soylent]

Looking @ this problem some more, I think I'm being too aggressive to think we will challenge the 52week high next week.

But, I still think we will be up by $1 by end of week.

-c

[Gavishti]

Looks like my last guess was off by a few days. Still bearish. Here is a daily of the $DJ.

[soylent]

Yes --

I have been contemplating if this is just a short pop before a bigger selloff...

I'm just an optimist, I guess.

I still think it will take a few more days of up on QQQ before we can sell off. The test will be if we can hold the retrace to 50%, I guess...

[soylent]

QQQ Mid week update:
Well, the fact that INTC didn't budge after earnings says...

Nothing much. Earnings don't seem to mean squat in the face of a 50day or 200day ma.

Anyhow, once again, I can't seem to post the direction right for 5 days. But, the weeks not over!

I'm posting ANOTHER view of QQQ.

My thinking:
a) 50-day
b) 20-day
c) 100-day
d) 50% retrace
e) Gap close
f) That ellipse doo-dad from AGET

These all converge tomorrow around $36.15. Will we rally out of there?

Of course, w/ options expiration, who knows what will happen. But, my 'guess':
a) sell off in the morning.
b) tag that #
c) rally in the afternoon.

It'll make a pretty bull hammer for a wave 3? (or, of course, it could be the wave 5 if AGET has this labeled correctly... Which could mean we will stall @ $38.50 and have a great big sell off...

[soylent]

1. Ever notice how those 'fib circles' look neat but don't seem to do anything? Anyone found an actual use for them?

2. Ever notice how GANN lines don't seem to have much actual power other than coincidental?

3. I do really like the way the 50 is turning up and the 20 is jumpng to the top.