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Strategies & Market Trends : Charting & Technical Analysis for Stock Indexes

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To: chartwiznyc who wrote (79)	11/21/2001 7:40:37 PM
From: macavity	Read Replies (1) of 211

Non-Confirmation. Would I be right in assuming that non-confirmation should only be used with regards to the trend? E.g. In daily Charts. NDX/SOX/BTK/IIX/NWX are all bullish. 19Nov2001 High of move : NDX/BTK/IIX/NWX NonConfirmation : SOX => Close QQQ longs. Because the daily trend is bullish I can use the daily charts to confirm highs (as above). Can I do the same with the lows? Do they bottom (form higher lows) at the same time if trend is up, as in 30Oct2001. I am finding that there is some degree of rotation going on in tech as the indices/sectors have not always peaked and troughed at the same time in this rally. e.g. 7nov2001 biotech (BBH/BTK) peaked and Tech (NDX/IIX etc) peaked the day after. There has been a definite change in order on this rally up, indicating some sort of rotation within tech. -macavity

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