Replies to post #21870 on ETF SWING & DAY TRADING

[sammy1024]

indices are making new highs

the bear will come when we go below the 200 day moving averages. otherwise bears keep say we go down at every new high. they got no credibility.

[Little Chico]

That's very interesting but...

...according to prophet.net, the weekly $compq chart peaked on 1/9 at 23.32 and finished this week at 22.87, off 45 pts. It finished up 7.74 pts for this past week but that doesn't result in a new trading signal. The Slow Stochastic is also coming off an overbought reading on 1/23 and the weekly candlesticks are pulling away from the upper bollinger band. The call should be "short," for the weekly chart, despite short term countertrends. I don't think we can say the weekly chart is bullish until it breaks resistance at 23.17 at the very least.


Chico