Here are hourly charts of the March S&P futures, the Spiders, and the QQQQ's. I last commented on these markets here.
I think these markets are about to make new lows for the reaction which stared last Thursday. I now believe the S&P's will find a low near 1447, the Spiders near 144.70 and the Q's near 44.70.
Once the reaction is complete I shall expect a move up to 1470 in the S&P's, to 147.00 in the Spiders, and to 46.40 in the Q's.
3 comments:
Carl,
What levels of suppor when broken would make you bearsih?
I agree with your market view / forecast. The high levels on the put/call ratio on 5 & 10 moving average basis combined with too many stock showing solid price action tell me the market has more to run.
No way QQQQ will touch 44.7. ANd we shall see....
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