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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	4/19/2001 3:17:49 PM
From: besttrader	of 37746

From Rumordude -- $NDX.X Perhaps more explaination is necessary for this non-confirmation signal. I use MACD for a variety of time frame, such as 1 minute all the way to 30 minutes for intraday signal. When prices reachs a new high, yet the MACD reading ticks lower, that signals a weakening of strength in the move. I was bearish all the way until yesterday due to the simple reason that on my 30 minute charts, NDX was unable to break above it's parabolic line for 4 days straight. After that "parabolic" move yesterday, it is on the edge of dropping below it. However, the reading is around 1890 range. While I wouldn't go long, it is too early to go short. none. [madtrader] Thu Apr 19, 12:08pm PDT $NDX.X The non-confirmation signal is working as NDX loses 20 plus points in a hurry. Eyeing a possible short trade should NDX drops below yesterday's high of 1890 range.

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