The pullback today is expected, and the broad market, especially the financial sector, is fairly strong. Probably people were very positive to the passage of $700B bailout by both the senate and house. Will the government intervention change the big picture? Yes, the near-term outlook is certainly bullish as everyone believes, but the intermediate-term and long-term outlook depend on the economical fundamentals. Let's see.
SPX 60-min:
I expect SPX rises steadily to 1180-1190. After that what will happen?
XLF 60-min:
QQQQ 60-min:
Do not open long positions on QQQQ.
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No chart for SSCC/TAN/POT/EWZ, etc. Wait until the market is stabilized.
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