Home > Market Set Up > $market is making a convincing pause

$market is making a convincing pause

A fantastic run to the upside, good earnings (although that is debatable-lower estimates and cost cutting), good volume. If you are a pure chartist/tecnician the next best thing to see is a light volume pause, especially one that goes sideways instead of pulling back.

Well take a look at the hourly chart of the QQQQ for the last 15 days and it is a perfect setup for a continued move to the upside.

If you did not take advantage of the the 13 day explosion (1,000 points in the DJIA) you MUST BE PREPARED with a list of stocks if we break to the upside with volume.

Even if the price action does not happen you must be ready, the potential profits could make your August P&L much nicer, it will make taking off the last week before labor day when volume dries up much easier to relax šŸ™‚

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