Invesco QQQ Trust Series 1 (QQQ)

[royg1927]

Jimmy,

"When the Bottom Bollinger band pierces the 50 day moving average.....Is it bullish Long? Bearish long?"

No idea.

I've never heard of it.

I don't pay much attention to moving averages, and don't have them on my ChartStyles.

I do have 50 and 200 ma's on my Telechart presentations.

Where I think they MAY have some utility is when they happen to coincide with another technical support (or resistance) area/point. In that case it could be that other (amateur) technicians see them both and say "ah-ha!" and they rush to take advantage which fullfils the technical indication. I am sometimes one of the amateur rushers.

I can see how that principle might be applied to a moving average cross of a b-band. Maybe somebody else is onto something. I'll keep an eye out (if I remember to).

The reason that I don't give a lot of credence to the strength of moving averages providing support or resistance is that when I flip through a whole bunch of charts, I see a predominance of cases where the price just sliced through like "knife through hot butter".

Why 50? Why 200? Or 15.

I ran across a post a few days ago where a guy cited an 89 moving average as support. What th'?

Another comment: There is a tendency by many (I think) to look for too many indicators, or the next (new) hot one, or one with an exotic algorithm. I myself have to fight the urge.

Right now I'm in the process of taking off CCI and the Chaiken Oscillator from my ChartStyles. With my limited operative synapses, I need to devote their limited power to fewer indicators.