Stock Market Breaks Out Says
Market Timer Frank Kollar
September 11, 2009 (FinancialWire) (By
Frank Kollar)
Both the S&P
Deposit Receipts (NYSE: SPY) and Powershares QQQ Trust
(NASDAQ: QQQQ) are now at new rally as well as new 2009
closing highs.
This first week after Labor Day is when
vacations end and traders are back in business. So when
the first three days of trading result in substantial gains,
you sit up and take notice.
The rally really
started last week when the major indexes rallied and
erased most of their early week losses. But this week
is the main event with breakout rallies in the S&P
500 Index (SPX), the Nasdaq 100 Index (NDX) and Russell
2000 Small Cap Index (RUT).
Initial targets for the SPY are $105.70.
If surpassed the next target is $114.81.
Initial targets for the QQQQ are $43.60.
If surpassed the next target is $48.16.
The http://www.fibtimer.com ETF
Strategy has positions in the S&P 500 SPYDRS and Powershares
QQQ Trust.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com)
which offers market timing strategies for S&P and
Nasdaq index fund traders, as well as bond, gold, small
cap, sector, ETF and stock trading strategies.
Kollar’s research has shown
that the financial markets are in tradable trends approximately
80 percent of the time. FibTimer strategies define trends
and trade them in both advancing and declining markets.
Caring nothing about what newscasters say or what the
latest economic indicator predicts, trends are where
the profits are, and that is where FibTimer is.
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Disclaimer: The financial markets are risky. Investing is risky. Past performance
does not guarantee future performance. The foregoing has been prepared solely
for informational purposes and is not a solicitation, or an offer to buy or sell
any security. Opinions are based on historical research and data believed reliable,
but there is no guarantee that future results will be profitable. |
