Thursday, October 9, 2008

Short Term Bottom In Sight

The Qs are tracing out a symmetrical triangle which projects a low around 30 by mid-day tomorrow, but need not go much below 31.84. The Dow is tracing out an ending diagonal triangle, which may end as early as today with one more test of 9043. The intraday day low so far was 9046, just 3 points shy of the projected support in an earlier post.

The updated rally targets are:

Dow 9746, 9963, 10180

QQQQ 35.28, 36.92, 38.55

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