Tired Market. Look Out Below!!

Discussion in 'Trading' started by TradeTheFunk, Oct 21, 2007.

  1. <B>Negative Divergence </B> in the QQQQ. Notice the weak attempt at a new high (#2) with less strength behind it in the Stochastics (#2) Not to mention the MACD crossing down. Look out below for at least a another day or two.

    Please see chart of QQQQ and I invite any comments.
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  2. The market should go to bed if it's "tired". :)
  3. Shorts are screwed either way...

    Scenario 1: Markets go down more, fed realizes the situation is worse than they thought and cuts rates to stabilize market... shorts get stomped.

    Scenario 2: Market goes up, shorts get stomped.
  4. That chart looks like a plane just before it stalls
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  5. I think the market is in for a tremendous whalloping.

    The Fed rate cut delayed the inevitable and that is a 15%- 20% fall.

    Since September the 18th it has quite obviously been the proverbial 'suckers rally'.
  6. Bowgett


    Sure. These suckers did 10-15% in just one month.
  7. nkhoi

    nkhoi Moderator

    now you mentioned it, it sure looks the twin towers!
  8. Interesting choice of metaphors.
  9. Let me be the first to predict that if enough people on ET agree that it will go down ... it will go up.

    Trade what you see happening. :)
  10. Is that one of the setups in Steve Nison's Japanese Candlestick Charting?
    #10     Oct 21, 2007