Market Analysis for Jan 11th, 2005
After failing to hurdle key micro resistance at 38.87
yesterday, the Qs plunged to a low of 38.31 (so far),
which is just 10 cents above Friday's post-Employment
low at 38.21. Judging from lack of ability of the bulls to get
anything going on the upside during the last 3 hours, my work
is setting up for another nosedive that fully tests 38.21... which
if violated, should trigger downside acceleration immediately to
the 38.00. My optimal next downside target zone is 38.00-37.80.
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