Where is the DOW going now? The Qs?

Fig.1. Charts generated by Track 'n Trade

In a post last week, I said I would make a prediction of where the Dow is going next. Well, my crystal ball is still a bit fuzzy, but here I go. According to Dr. Andrews the price will touch the median line of the pitchfork 80% of the time. The other 20% of the time there is price failure and the price will reverse and go in the opposite direction. I hope this is one of these times. (Fig. 1) shows the newest Pitchfork(in red) based on the pivot point high that formed 2 days ago. Using the action/reaction lines I get a target price testing the lows of late Jan. of 08 near 11,600. That's why I hope I am wrong. So, since it is such a steeply drawn pitchfork I am going to call the reversal point using the upper line of the pitchfork and not the median line which would be approx the 12,050 level on or before the 18th of Feb. That area noted by the square on the chart also, is the 60% fibonacci retracement area from the pivot point. So, let see where the DOW goes now and this is one time I hope the Pitchfork is wrong.

Fig.2. Charts generated by Track 'n Trade

Now, I want to look at the QQQQ. Looking at the chart(Fig. 2), using the the red pitchfork, I think the Qs are going to stay around where it is and end up at the $45 level. This should happen around the 20th of Feb. You can see it hit the target price at the beginning of Feb and has gone done since I believe it will reverse back up and end up at the $45 level. Again we will see.