Thursday, July 1, 2010

QBE :020710



Daily Stochs seems to have completed a set pattern, a triangualr consolidation. Signifying a complete set of price pattern has or is coming to an end. Prices however still is within the down trending channel. And keeping in mind that stchs dond suggest volatility or magnitude of price movement but waves cycles which could be big or small as the case may be but knowing the ending or beginning of one is good to know so at least there is some safety net in that sense and wont go too far wrong. Prices have to really break 18.50 to really see any meaningful upside. But if the price count is correct, its only 4th wave there should be a 5th wave down before any significant major correction. Any trade now will be premature.

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