Prechter’s FREE 10-Page Market Letter: Be One of the Few the Government Hasn’t Fooled
BMO Commentary
Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.
0725.ET
World Markets are Up big … US Futures/Markets are Up as well.
QQQQ/SPY are currently Trading at 44.24/ 110.71
QQQQ Resistance is at 44.68, then 44.92
QQQQ Support is at 44.14, then 43.80, then 43.61, then 43.40, then 43.17, then 42.8x, then 42.3x
Use these levels to look for turn Signals .. or the lack of them for continued follow-through.
Subscribers, read what I wrote last night and look at the Annotated Charts I posted then for guidance.
There are some Big Economic Events out this morning starting at 0745.ET .. be watching for them!
Metals and Energy Commodities are Down while the US-Dollar is Up right now.
Yesterday we got the break-out of the Trading Range we’ve been looking for .. it was to the Up-side . . . look for at least a slight consolidation now .. probably retesting the break-out level around 44.1x . . . THEN watch what happens to see what the future might hold.
Also, don’t forget that this is Options Expiration week . . Friday is the end of November options.
AMC Commentary
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How A Bear Can Be Bullish And Still Be Right
By Nico Isaac
In recent months, Elliott Wave International President Bob Prechter has become something of a household name. In the final two days of August 2009 alone, Bob was mentioned by several news outlets from MarketWatch to the New York Times. The claim to his “fame”– Read More.