Upside Reversal for the Qs? - Mid-Day Minute for Mon September 11th 2006

Sep 11

Upside Reversal for the Qs?

by Mike Paulenoff, Mon September 11th, 2006

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All of the major market equity ETF's have the potential to make key upside reversal days today, which if confirmed at 4 PM ET would appear to be bullish signals that the recent weakness from last Tues. is over, and that another period of strength has commenced...

The question is what kind of strength... the quality of the strength, etc.... because as of this moment, my work is warning me that THIS rally effort is NOT the start of a new upleg...rather, it is a sharp recovery rally within a larger, developing downside corrective process...

With that in mind, let's have a look at the Q's...the strongest of the indices...

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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!

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