Strictly Buy and Sell Set Ups Message Board

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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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From: chowder	12/25/2005 8:02:08 PM
	of 13449

12/27 SET UP ... NDAQ ... Long Term ..................... The weekly chart for NDAQ doesn't get any better at showing what a strong Stage 2 uptrend is. We have a rising 20 week moving average above a rising 40 week moving average (not shown on the chart), with a comfortable distance between the two. This is a bullish alignment and when you have a bullish alignment you look to go long on all pull backs into support. The trend is so strong for NDAQ that it doesn't pull back to the 20 week moving average. The chart will show that the 10 week moving average has been strong support. When you have a strong uptrend, whether it is a set up off the weekly chart or the daily chart, watch the 10 period moving average. This is often the only point you can buy the dips. After setting a new price high, NDAQ formed a 3 bar reversal down to a rising 10 week moving average where we see that price responded by reversing higher and forming a bullish harami candlestick pattern, right on support. We have a weekly snap back set up. stockcharts.com[h,a]waclyiay[d20041225,20051225][pb10!b20][vc60]&pref=G Entry should be around $38.75 which is above last week's high. Price should establish a new price high. Price target $3 to $9 depending on length of time one wishes to hold. Initial stop below $35.85. dabum

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