AI
Thursday, February 25, 2010 5:55:14 PM
Re: QQQQ and $COMPQ
Hi, 3x!
As always, I'll offer my unsolicited - albeit biased - opinion on the Q's.
I have been extremely bearish about this and other index. So, my chart interpretation remain bias to that side.
In the first two charts below, I have a hard time interpreting any clear bullish directional move, considering the current technical hurdles that are acting bearishly on price.
QQQQ WEEKLY Chart:
In the first chart, RSI is struggling to cross over its 60-level, while all other secondary indicators have completed lower highs - Correspondingly at that very point in the chart where price has met its bearish channel's upper channel resistance.
QQQQ DAILY Chart:
Similarly, in the second chart, RSI remains submitted under the effect of its resistance line overhead, whereas the corresponding price has failed to rally above the last quarter of the channel. Correspondingly, half of the major constituent of that index are down, whereas the other half has formed a lower high so far. Looking at the MACD and its histogram, both seem to be plateauing as the signal line is barely getting to the zero-level.
$COMPQ - MONTHLY and WEEKLY Charts:
The third (MONTHLY) chart below shows a significant historical resistance against $COMPQ advances in the future, whereas the fourth chart (WEEKLY) indicates a struggling RSI and much overhead resistance (same as that in the monthly chart) for price.
OVERAL - So, for the technical reasons above and a personal bias on the overall market, I remain contrarian to any bullish calls.
(Note though I do NOT currently hold any position in this or other stocks discussed above.)
QQQQ - Nasdaq 100 Trust - 60-Mo., Weekly Chart:
QQQQ - Top 4 Holdings: AAPL, QCOM, MSFT, GOOG - 12-Mo., Daily Chart:
$COMPQ - 29-Yr., Monthly Chart:
$COMPQ - 36-Mo., Weekly Chart:
- Dalcindo
---------------------------------------------------------------
Message in reply to:
QQQQ Mar 2010 44.000 call
(QQQ100320C00044000)
-------------------------------------------------------------
Hi, 3x!
As always, I'll offer my unsolicited - albeit biased - opinion on the Q's.
I have been extremely bearish about this and other index. So, my chart interpretation remain bias to that side.
In the first two charts below, I have a hard time interpreting any clear bullish directional move, considering the current technical hurdles that are acting bearishly on price.
QQQQ WEEKLY Chart:
In the first chart, RSI is struggling to cross over its 60-level, while all other secondary indicators have completed lower highs - Correspondingly at that very point in the chart where price has met its bearish channel's upper channel resistance.
QQQQ DAILY Chart:
Similarly, in the second chart, RSI remains submitted under the effect of its resistance line overhead, whereas the corresponding price has failed to rally above the last quarter of the channel. Correspondingly, half of the major constituent of that index are down, whereas the other half has formed a lower high so far. Looking at the MACD and its histogram, both seem to be plateauing as the signal line is barely getting to the zero-level.
$COMPQ - MONTHLY and WEEKLY Charts:
The third (MONTHLY) chart below shows a significant historical resistance against $COMPQ advances in the future, whereas the fourth chart (WEEKLY) indicates a struggling RSI and much overhead resistance (same as that in the monthly chart) for price.
OVERAL - So, for the technical reasons above and a personal bias on the overall market, I remain contrarian to any bullish calls.
(Note though I do NOT currently hold any position in this or other stocks discussed above.)
QQQQ - Nasdaq 100 Trust - 60-Mo., Weekly Chart:
QQQQ - Top 4 Holdings: AAPL, QCOM, MSFT, GOOG - 12-Mo., Daily Chart:
$COMPQ - 29-Yr., Monthly Chart:
$COMPQ - 36-Mo., Weekly Chart:
- Dalcindo
---------------------------------------------------------------
Message in reply to:
QQQQ Mar 2010 44.000 call
(QQQ100320C00044000)
-------------------------------------------------------------
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