Back in August when I strongly suggested that the markets were about to turn over and the next bear leg was beginning, I was wrong. I mentioned that if the QQQQ moved with strength above 47 that the downside was off for the time being. Upward momentum is now waning, but I believe there is still potential for a few percent rise in the markets. The Dow Industrials may be looking to touch the 11,750 range which was the 2000 high. On the short term, Boeing (BA) has a decent looking Elliott wave form and some short term upward momentum (caveat.... daily momentum has not turned up yet). I predict that BA will move up to 68.75 within the next week or two. Next target for the QQQQ is 57.
