Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Tech going to rally another 50%? Breakout attempt in play!

Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

This chart looks at the NDX100 ETF (QQQ) over the past 20-years on a monthly basis. Fibonacci was applied to the Dot.com highs in 2000 and the lows in 2003 at each (1).

The rally over the past 15-years has QQQ testing it 161% extension level for the first time in history at (1). While it is testing the 161% level, it is also testing the top of an 8-year rising channel at (2).

We applied the next Fibonacci extension to QQQ, which is the 261% level. The 261% target comes into play around 285, currently 50% above current prices.

A very important breakout test is in play for Tech at (2), at the 183 level. If tech can find the strength to break out, bulls would get a positive message. What QQQ does at (2), will be important for the short and intermediate term trend!

To become a member of Kimble Charting Solutions, click here.


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!