It is possible that we get a bounce up on Monday in QQQQ / SPX (down for QID), but the charts suggest more upside in QID, to me. This is based on the 50 minutes and 15 minutes chart which looks like they have unfinished business on the upside for QID (down for QQQQ). The 60 min chart MACD histogram does warn that a decline is possible because it's slope is down. RSI and Stoch suggest a push higher in QID, then a decline, then another push higher. Likely I will exit the QID before the decline and buy it back again for the next move higher and I will continue holding the SDS that i bought previously, for weeks if needed, until the current downtrend correction ends.
60 minute chart
15 min chart
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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