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For the last few weeks we've been anticipating a short term top on the
Q's. There have been many reasons for this including the broken
trendline.
Today's action in the market was very bullish and tomorrow brings the
mid term election, so which direction will the market take us in the near
term?
Well, we are still thinking short term down and will most likely have a
short setup for our members in the next few days.
Breaking the 41.50 area of support should see a 1/3rd retracement back
to the 40 area. If however the resistance of ~ 43.40 is broken, we will
most likely go long and cover any open short position.
Stay tuned....
II. Market
Charts
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