Friday, September 19, 2008

Major Markets



~~ QQQQ ~~ 43.83 near 44 +/- R is held by reckless gap fades today.

~~ SP 500 ~~ gap fade at SPX 1265 R today.

A gain of 3.38 points, 0.27%, for the week.

SPX 1265 ~ SPX 1210 s/r range.

As noted earlier, Daily/Weekly are turning up with + divergences. We do not have a confirmation for cycle turn yet.

The week prior to the OE week cycle pivot vs this week cycle week pivot. Not sustaining the up momentum is very negative, but I think that we have seen the supports.
~~ DOW ~~ closing at 11388.44 right below daily 11483 r

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