Have Qs topped today?

[JSSPMK]

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2628999>

 

[JSSPMK]

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2630174>

 

[JSSPMK]

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2633191>

 

[Petsamo]

We need to make a lower high, otherwise, this correction/consolidation was a bluff.

 

[MarketOwl]

Quote from Petsamo:

We need to make a lower high, otherwise, this correction/consolidation was a bluff.

Not necessarily. We could get a fake breakout and then collapse. I see that as being very possible. We are reaching some thin air up here.

 

[JSSPMK]

Yesterday

Quote from JSSPMK:

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2633191>

Today

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2634213>

 

[JSSPMK]

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2636701>

 

[S2007S]

QQQQ extremely overbought.....


Not to worry though, this is 1990's all over again, anything overbought just becomes even more overbought.

 

[JSSPMK]

Quote from JSSPMK:

Todays' 43.14 close marks an intermediate top in the Qs (ImPO)

Risk control breach of 44.5

Target around 35-36

Price action has been weakening across the board, Qs current upside cycle has put in only ~+1.5 compared with previous 4 cycles' of an average of ~+3.75. Today closed with a bearish hammer.

Close to being busted, within a whisker of a stop level.

But this Weekly chart shows why I am still interested, but next time I will have to see 40.5-41 area to be taken out.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2636753>

 

[Petsamo]

The S&P reached a double-top today.