Thank You My Sustainer; for the knowledge and ability to help others
I am not apprehended by the “reactionary small up move (due to the yesterday’s big down move) of this morning. It was, rather, expected and it serves better, for the further down move, as it brings in “fake out move” buyers. Financial Markets and Commodity Markets (Gold and Silver) shall resume their travel to the downside soon and then it shall be again a fast one. I am all short. Just be watching the support zone areas for the QQQQ, and SPY previously posted. I have also posted the Gold support zone area, as well.
THE MOST ACCURATE FORECASTING OF FINANCIAL MARKETS
http://trade-in-harmony.blogspot.com/
What is the silver support area?
Targets for SPY have already been hit. Do you expect bounce ? If not.. what's the power of these leves ?
Best Regards
Please keep checking the blog for the updates on gold & silver.
Thanks.
Robert, mr syed has mentioned that there is another target lower of 104.6 SPY, if i have not mistaken
Linton, Thank you for your comment.
In one of posts Mr. Syed also showed the targets for QQQQ at 36.40 and ~39 which seems the decline shoud continue ? It's at 42.98 at the moment.
The question is if we dive much deeper or will we bounce to the new Feb/March high. The Author of this blog is still short on his positions so I assume the decline will continue after the short bounce.
Have a great weekend!
Best Regards
Robert, i will also be short after monday/tues bounce