Emini FuturesCast / The Daily Pod 10/03/11
(QQQQ)(DIA)(SPY)(GLD)(SLV)
The Bottom Fell Out is a highly technical piece of analytical terminology that is used very rarely on this radio program. However, once the Howzenberker numbers are broken to the downside we do become literally speechless. We just dawdle around in our "Be The Knife" t-shirts and drool.
Elbow Breakdown Update
The 3rd swing down has now fallen 70 points from 1154 to 1084. On a more common technical note, the S&P 500 has a bearish reading on the MACD for the first time in 4 years. We do have one final weekly support level about 30 points below us. Here's hoping we don't need it!
If you would like to see that level and how we spotted this short last Wednesday -
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