Bears may look to a topping pattern (Reverse Symmetrical Triangle) forming and... well that's about it.
QQQ is above massive support at around 54, MACD has triggered up by a teeny and is not nearly over bought. TRIX is still trigger down, but it is slower and as long as it remains above zero, it's good.
Here is the kicker... the massive Cup-like structure from late 2007 to late 2010 projects to 83+. That is crazy, I know. Or is it? Where is the US dollar going? Could globally focused and flat out awesome companies like Apple, Google and the big boys become the de facto banks of the United States? Could investment dollars seek out the generally debt-free, growth oriented progressive likes of these companies?
The mainstream is not yet ready for gold, I don't think. But they sure as shit are ready for GOOG.
I don't make predictions because that is a fool's game. But neither do I just blindly accept what some of the higher minded analysts would have me believe. It's probably a Reverse Sym-Tri topping pattern, but...
Edit (8:47) This crazy idea is nothing new. It was first intro'd in NFTRH125 back in February, using the actual Nasdaq 100 index (NDX) along with the following:
"Below is a view of big tech that is certainly no prediction, but is shown for the sake of balance. If we are going to make technical projections for precious metals and PM stocks, or other favored things, then why not the companies that produce some of the most amazing gizmos like that on which I am currently typing, and develop some of the most progressive tools for the productive world; all on a global basis?
The ‘Cup’ is mal-formed, with the right side rim significantly lower than the left and indeed this index would tank in an economic contraction/deflation scenario. But in light of not yet having confirmed a reversal in Treasury bonds, there is a huge upside target that could be actualized in the initial stages of an inflationary breakout."
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