Tired Market. Look Out Below!!

[TradeTheFunk]

<B>Negative Divergence </B> in the QQQQ. Notice the weak attempt at a new high (#2) with less strength behind it in the Stochastics (#2) Not to mention the MACD crossing down. Look out below for at least a another day or two.

Please see chart of QQQQ and I invite any comments.

 

[a529612]

The market should go to bed if it's "tired".

 

[brettdoyle]

Shorts are screwed either way...

Scenario 1: Markets go down more, fed realizes the situation is worse than they thought and cuts rates to stabilize market... shorts get stomped.

Scenario 2: Market goes up, shorts get stomped.

 

[TradeTheFunk]

That chart looks like a plane just before it stalls

 

[Alex_in_Oz]

I think the market is in for a tremendous whalloping.

The Fed rate cut delayed the inevitable and that is a 15%- 20% fall.

Since September the 18th it has quite obviously been the proverbial 'suckers rally'.

 

[Bowgett]

Quote from Alex_in_Oz:

Since September the 18th it has quite obviously been the proverbial 'suckers rally'.

Sure. These suckers did 10-15% in just one month.

 

[nkhoi]

Quote from TradeTheFunk:

That chart looks like a plane just before it stalls

now you mentioned it, it sure looks the twin towers!

 

[TradeTheFunk]

Quote from nkhoi:

now you mentioned it, it sure looks the twin towers!

Interesting choice of metaphors.

 

[kiwi_trader]

Let me be the first to predict that if enough people on ET agree that it will go down ... it will go up.

Trade what you see happening.

 

[TradeTheFunk]

Quote from nkhoi:

now you mentioned it, it sure looks the twin towers!

Is that one of the setups in Steve Nison's Japanese Candlestick Charting?