The QQQ chart looked so strong when we examined it during yesterday morning’s tutorial session that we segued to the Dow’s charts to see whether there were any corresponding signs. What we found was a quite plausible bullish pattern that projects to as high as 14142, a 7% rally from these levels. Especially interesting is the apparent consolidation following a brief flirtation with the pattern’s 13089 midpoint. The Indoos are now above it, having seemingly broken out, and we should keep this well in mind before we attempt to intercept buyers with short offers. I’ll also note that the last ten or so bars of the chart shown yield a bull target projection of 13386, just above May’s high.
