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CURRENT MARKET TREND: Up 5/27/16 @ 2090
Stop-loss 2026

Wednesday, February 12, 2014

QQQ - The Count I've Been Tracking

Wave 4 retraced exactly 23.6% of wave 3. I thought it would drop a little more to the 81 area, but alas it did not. The targets for wave 5 are within the two white horizontal lines. Now that wave 4 is presumably in, I can better get a feel for where wave 5 will end up.

The FRZ's for wave 5 now reside at right around 90.00 where wave 5 = .618*1 and 5 = .236(1+3) and the 93.60 area where wave 5  = 1 and wave = .382(1+3). I would give better odds to the second FRZ holding the move.

The SP-500 might make new highs with the Q's, but I don't believe the DJIA will.


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