ETF CORNER

Technical analysis:QQQQ,QLD,QID,DIA,DDM,DXD,SPY,SSO,SDS.

As i said in my post yesterday .. the VIX is heading towards complacency !

We are now due for a correction until May 2009: I believe we will retrace 50% of the last rally. The next time to buy will be sometime in May see my Big Picture.

I will leave you with these charts if I "May" !

QQQQ : Powershares QQQ Nasdaq 100 (Long Nasdaq)

QLD : Proshares Ultra QQQ (Double Long Nasdaq)

QID : Proshares Ultra Short QQQ (Double Short Nasdaq)

SPY : SPDR S&P 500 (Long S&P)

SSO : Proshares Ultra S&P 500 (Double Long S&P)

SDS : Proshares Ultra Short S&P 500 (Double Short S&P)

DIA : Diamonds Trust (Long Dow Jones 30)

DDM : Proshares Ultra Dow 30 (Double Long Dow Jones)

DXD : Proshares Ultra Dow 30 (Double Short Dow Jones)

SPY,QQQQ,DIA: Short term overbought.

No rocket science here : the US indices are overbought. All we need now is a decent pullback in order to have healthier advance up to the long term resistance line.

What the Nasdaq,S&P 500, and Dow Jones need right now :

QQQQ : Nasdaq 100 Trust Shares

QLD : Ultra QQQQ (Double Long Nasdaq 100)

SPY : SPDR S&P 500

SSO : Ultra S&P 500 (Double Long)

DIA : Dow Jones Diamonds ETF

DDM : Ultra Dow 30 (Double Long Dow Jones) 

BGU : Triple leveraged Large Cap Bull (Triple Long Russell 1000 Index)  

Short term technical analysis Dow Jones ETF's : DIA,DDM,DXD.

DIA : Long Dow Jones.

 

DDM : Double Long Dow Jones.

DXD : Double Short Dow Jones.