No Meaningful Selling Pressure in Q's

Apr 04

by Mike Paulenoff, Fri April 4th, 2008

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No Meaningful Selling Pressure in Q's
By Mike Paulenoff, www.MPTrader.com

Although the Q's have been unable to make any upside progress during the first hour of trading, the action nevertheless is very muted -- and does NOT suggest there is any meaningful selling pressure at this time. In other words, the action in the Q's is an orderly high-level consolidation period that probably will span a range between 46.00 and 45.00 (roughly) prior to completion -- and the emergence of a new upleg to 48.

Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!

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