The so-far low for this month at 297.45 just missed triggering a ‘mechanical’ buy at the green line, 294.75. If the Cubes should relapse to it in the weeks ahead, the trade would still be a ‘go’, subject to a sop loss just beneath C=260.11. Subscribers will notice that the 398.68 target of the pattern shown is somewhat higher than the already ambitious one at 377.14 presented here earlier. This is a lesser pattern, but I’ve given it precedence nonetheless because it is more easily managed for trading purposes. Regardless of whether Mr Market gifts us with a pullback to the green line, the 398.68 target would become an odds-on bet to be reached following a decisive move past p=329.40. ______ UPDATE (Mar 16, 6:37 p.m.): Reading my last few touts for this vehicle, subscribers might not recall that a long-ago forecast nailed the so-far all-time high within three-tenths of a percent. The 337.10 target was dropped from subsequent touts and updates after QQQ peaked at 338.19 exactly a month ago. It has since recouped half of the steep plunge to 297 (!), but that hardly negates the possibility that a bull market top is in. This update is simply to put 337.10 back on-the-record and to add heft to the still speculative idea that we are in a bear market.
QQQ – Nasdaq ETF (Last:320.62)
