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Strategies & Market Trends : Technical Analysis - Beginners

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To: Chris who wrote (11362)	2/5/2001 11:12:41 PM
From: Trader X	Read Replies (2) of 12039

Conflicting signals. Yes, but the hourly chart is going to lead the daily when/if the daily turns, the hourly turns first. Sorry, you're on a 30 minute chart, but you know what I mean. combine the nice recovery in the Naz, and the buy signals in semi equips, which were leading the Naz all Jan. also looks like a tweezer bottom on the qqq the last 2 days where it held support at 60. MACD is crossing 0 but I only use MACD to confirm other indicators, not to lead with. On naz chart, the weekly macd is turning up while stachastics was never in overbought before the current retrace to begin with. The weekly chart trumps the daily for major trend moves, and the hourly can signal a turn before the daily during an intermediate retrace.

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