Aug 23

Plunge in Q's

After two hours of trading, the Q's have plunged from their pre-economic data high of 38.67 to 38.08 so far, likely on the way to my optimal next pullback target between 38 and 37.80 which must contain the selling pressure to avert a much more damaging decline towards 37-36.80.

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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!