What we have anticipated and have been highlighting since September has finally happened. The upper resistance line on the QQQQ has been broken on a weekly basis.
Confirming the breakout is the SMH (semiconductor sector), which bounced firmly off long term support and is now embarking on the next leg up in its long term uptrend. The Dow and S&P broke above their pullback resistance levels and are also in confirmed up trends. This is a market that is firing on all cylinders. This is a market that we anticipate will provide opportunities not enjoyed since the year 2003.
Monday, November 07, 2005
Tech Leadership Breaks Out!
Once again, take a look at the QQQQ chart:
What we have anticipated and have been highlighting since September has finally happened. The upper resistance line on the QQQQ has been broken on a weekly basis.
Confirming the breakout is the SMH (semiconductor sector), which bounced firmly off long term support and is now embarking on the next leg up in its long term uptrend. The Dow and S&P broke above their pullback resistance levels and are also in confirmed up trends. This is a market that is firing on all cylinders. This is a market that we anticipate will provide opportunities not enjoyed since the year 2003.
What we have anticipated and have been highlighting since September has finally happened. The upper resistance line on the QQQQ has been broken on a weekly basis.
Confirming the breakout is the SMH (semiconductor sector), which bounced firmly off long term support and is now embarking on the next leg up in its long term uptrend. The Dow and S&P broke above their pullback resistance levels and are also in confirmed up trends. This is a market that is firing on all cylinders. This is a market that we anticipate will provide opportunities not enjoyed since the year 2003.
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