ETF projections - SPY, QQQQ, DIA

For a fun time I took a look at the massive H&S on the index ETFs.

Rough/eyeballed downside projections are:

DIA 10200
QQQQ 31
SPY 106.3

 

Progress report:

9/18 close

DIA 109.97
QQQQ 41.57
SPY 120.59


9/29 close

DIA 10401
QQQQ 37.18
SPY 110.97

 

Also GLD almost touched its downtrend line from Mar 08 today.

This should be interesting already 5 waves up from 2001 to 100.

 

Huge double top breakdown on the RUT target 550 if it holds.

Gold looks bad could go to 650 on this round unless it can break that down trend line.

Deflation. Realize.

 

Huge double bottom on the rest....

 

DIA / SPY targets met.

 

Open 10/3 638

638-550 -> 88 / 14%

Chart patterns definitely do not work.

 

QQQQ target hit.

9/19 open 43.82 -31 -> 12.82 or 30%

Not bad. Too bad chartpatterns don't work.

 

All targets hit.

Still watching Gold.

 

H&S break of 81 on GLD sends it to 71 and breaks 08 lows.