Replies to post #1263 on Short Term Trading Member Forum

[frenchee]

Hi BlissBull,

I don't trust the five-period RSI for the QQQ now. With the 50 day EMA being takin out decisively today, I see a minor retracement back to 36.40 area and then a further decline to the 200 day EMA. Morevoer, Nas breath isn't that bad considering what the large caps have done the last three trading days. Lastly, slow stochastics aren't confirming the 5 period RSI signal. Therefore, my current target is 35.25 area. http://stockcharts.com/def/servlet/SC.web?c=QQQ,uu[w,a]declyiay[db][pc200!h.02,.20!d20,2!a35.25!c50!...