Tuesday, August 4, 2009

Double Top In Qs??

The earlier post appears to have been premature, though not still out of the question. The triangle pattern appears to have been invalidated as what would have been wave d moved above the wave b high. The pattern now appears to be an ending diagonal that double topped at 40.19 against the 7/30 high of 40.18. If so, a move below the 7/31 low of 39.41 will confirm the (nearterm) top is in. If the Qs continue to move sideways above 39.41, then expect another thrust higher to the 41.05 target. We should know which outcome will prevail by tomorrow afternoon.

No comments: