I think the market could easily go either way tomorrw, with the bias to the downside. Even if we get a selloff, the tenor of the decline from the recent high so far has been corrective. This leads me to believe that we are in the middle of a double zigzag upward correction. If so, the Qs would target 1.382 to 1.618*(46.72-41.77)+41.77 = 48.61 to 49.77. The 48.61 level fits in perfectly with other projections, so that area may be where we are headed after all. Just expect some volatility on the way.
One of my long term holdings that I have discussed many times on this blog, QCOR, exploded higher today after its earnings announcement last night. My next target is in the 18 to 20 area.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment