Nasdaq 40 day cycle target

0930 CST

It appears that QQQ 0.00 can go a tiny further bit higher as it has found its way back into a previous area of trading from weeks ago. However, the target is complete or nearly complete for this 40 day cycle.

Therefore chop and range trading should commence until this current 10 day cycle peaks in the next few days.

This will be a sharp selloff more than likely taking late bulls out.

UPDATE 11:19 CST - SO FAR TODAY; one small loss at 1010 CST and one way bigger winner from 1105 CST

UPDATE 11.59 CST - late buyers coming in here to propel higher CLOSED THE TRADE IDEA at 800 instead of 828

UPDATE 1439 CST - Possible that the larger cycle below is in fact only 20 day magnitude, and that the trough of September 7th, is 20 day only. NOT 40 day.

Derek

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