InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
Subscribe Login/Register
S&P 500
5,469.30
(
0.00%
)
US TECH 100
19,163.20
(
-0.06%
)
Dow Jones
39,112.16
(
0.00%
)
Brent Oil
84.33
(
0.17%
)
Bitcoin
61,394.16
(
-0.67%
)
Post# of 76351
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Keep Next 10 Report Keyboard Shortcuts
Next 10 Prev Next

frenchee

Send PM Follow Ignore
Followers 101
Posts 11526
Boards Moderated 1
Alias Born 06/05/2004

frenchee

Re: None

Saturday, 10/09/2004 12:12:37 PM

Saturday, October 09, 2004 12:12:37 PM

Post# of 76351
QQQ Intermediate-Term Sell Signal

Current Position: 100% Short and plan on increasing if QQQ closes >= 36.61 on strength next week. Current Trailing Stop: 36.62


With Friday's close, QQQ went on a intermediate-term sell signal using a weekly-data compression and the RSI. Note the duration of the down periods have been decreasing during corrective waves two and four of the cyclical bull phase we are currently in. If the current decreasing corrective pattern continues, then 3-4 more weeks to the downside before an intermediate-term bottom.

http://img6.imgspot.com/u/04/282/16/QQQweeklyRSI100804.jpg
http://img6.imgspot.com/u/04/282/17/QQQweekly100804.jpg


Below is the shot-term view using daily data. With the weekly turning to a sell, the odds of gap support holding around 35.20 have decreased. Next stop appears to be around 38.2% retracement level.

http://img6.imgspot.com/u/04/282/17/QQQdaily100804.jpg



Regards,
frenchee

#board-4258 TSP Trend Timing: EFA (I), TLT (F), SPY (C), and VXF (S)

Public Reply Private Reply New Post
Keep Last Read
Keep Last Read Next 10 Report Keyboard Shortcuts
Next 10 Prev Next

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Sign Up