current spy and qqqq

[Ben <profitok@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx>]

            SPY Trend Analysis - 12/22/2006 
           
            All the major US indices were negative. For the week, the Dow Jones Industrial Average gave back 102.30 points, or 0.82%. The Standard & Poor's 500 Index dropped 16.33 points, or 1.14%, while the Nasdaq Composite lost 56.02 points, or 2.28%. 
           
                 Oscillators Trend Analysis 
                  Symbol Daily Weekly Daily Weekly Mtly Qtly Yrly 
                  SPY        
           
     
     
      SPY Long-term perspective:
      The monthly uptrend that started on 6/14/2006 is near completion. It has a five waves impulse structure and the final fifth wave is completed or almost completed. A new downtrend toward the multiyear support line is about to start.  
     
            QQQQ - Long-Term Trend  
           
     
     
      SPY Short-term perspective:
      The last fifth wave of the long-term uptrend is near completion. The wave is forming a termination pattern, weekly technical indicators are overbought, and the weekly uptrend support line is almost broken. If support holds, we may see a brief rebound, but there is not much room for the upside move. The risk/reward ratio is high. 
     
            QQQQ - Short-Term Trend  
           
     
     
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