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You Are Here: Home > Articles > Contributors > Downleg Near Completion in Q's

Downleg Near Completion in Q's
Nov 20, 2008

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Mike Paulenoff

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My pattern and momentum work in the Q's) argue that the downleg from the June 2008 recovery rally peak at 50.61 is at or is very near completion ahead of a potent recovery rally period that should propel the Q's into the 33.00-34.00 target zone. Can we loop down and retest this morning's low at 26.00 - and possibly make new lows? Definitely, but relatively marginal new lows should be short-lived prior to a vicious snapback rally period. (12:45pm EST, 27.21).

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