Monday, March 24, 2014

Whoosh - QQQs March 24, 2014, a Spiral Calendar dilemma

I had very few SC points for DJI that indicated March 20-24 as turns but I had several for QQQs:

The yellow highlighted dates are the pivot date + the SC interval.  Under the column historic pivots, I have one date highlighted in red which means in my spreadsheet referencing that that particular day was a very big pivot in QQQs.  And that line out at the far right gives me the future date of today March 24, 2014.  Of course, there are other dates that corroborate today as a pivot candidate.

I did not know what to do about so many dates from 3/20/2014 (Thursday) to 3/24/2014 (today).  So close together, it would seem like a whipsaw were there to be a top and bottom in those 3 trading days; a relatively minor event.  But, as we see, the last 2 days are not minor in QQQs.

Adding to my distress DJI which seemed to dispute the the large number of QQQs' projected pivots in just 3 trading days.

My perception at the moment is the pivot in DJI is negligible as SC had indicated it was and I correctly interpreted AND the pivot in QQQs is as severe and will be as temporary SC indicated and I incorrectly ignored.


The March 20-21 dates in yellow, then, project a top and March 22-24 dates infer a bottom today.  Allowing 1 day in the projection and tomorrow could be the bottom.

So, I continue to believe QQQs must recover (at the moment trading at 88.16 and was trading as low as 87.41 today) and will at least touch the 94 area Friday March 30.  From the low of today that would be almost 9% in the next 41/2 trading days.

Jim

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