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» Oulook for the week in the Market
9:37 AM
I expect a temporary reprieve from the blood letting in the market. Lets look at the daily QQQ chart below:
As you can see there was a bottom signal. There was two candles upside down next to each other. Then this signal just repeated themselves today. As for the weekly QQQ, there also looks to be a bit of a bounce that is going to happen:
Look at the above two points: The RSI right there in march april and now: There appears to be a resistance on the middle part of the RSI. I will have to wait for a confirmation of the MACD (the indicator on the bottom) but for right now if you are betting on the market the answer is bet long.
More to come today.
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