Friday, October 26, 2007

The same as yesterday, but I'm more bullish

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The same as yesterday, the NASDAQ 100 tried to push the market down while the S&P 500 and DJI tried to move in the opposite direction.

At the current moment the majority of the technical indicators are mixed for the NASDAQ 100. The analysis applied to the S&P 500 points to the bullish mood. I would expect to see the beginning of the recovery more then continuation of the down-trend.

If I would think of placing a trade tomorrow I would prefer to deal with SPY, not QQQQ, simply because the technical indicators are clearer for the S&P 500 then for the NASDAQ 100. Let’s see what we will get tomorrow. So far, I’m bullish, but I would not bet on the QQQQ.

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