Thursday, January 15, 2015

Before I say any thing like totally STUPID, keep in mind that the next time frame up, the weekly chart of Da Q's, remains in an unchallenged UP TREND, and is pretty bullish.
HOWEVER, on the daily chart we probably need to hold $100, that is the level of the September highs, it's the 38.2% retracement of the October-November rally, and it's the lows from December and early January, other BAD things are that we broke the triangle I talked about to the DOWN side, this is the THIRD test of this level and the more you TEST an "area" the MORE likely it is to LOSE that "area", both the BB Squeeze and Woodies CCI are saying SELL, and, well, that is one UGILLY looking BEARISH ENGULFING candle it's trying to put on today, udder Dan Dos things it looks just GREAT!!
A break of $100, "COULD", lead to an "EQUAL MOVE" scenario that "MIGHT" take us back down to the 200 SMA around $96.
This is just pure speculation, and of course is dependent on Grandma Yellin not flying into a panic and throwing another 4 TRILLION DOLLARS on to their balance sheet that will eventually be owed by YOU, the tax payers, when the bill comes due.


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