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Pastimes : QQQ & DIA - chat & chart
QQQ 619.25-2.0%Nov 4 4:00 PM EST
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To: Jon Khymn who wrote (663)8/11/2003 11:59:24 PM
From: Chris McConnel  Read Replies (3) of 795
 
Think you are for more knowledgeable about this stuff then you let on! -ggg-

I'm no expert on TA, and so far, it's just in the interesting column for me. I'm reluctant to trade on it.

Like i posted before, i tend to read quite a few people and then try form a strategy from that reading. The folks that have a better read on the market over time, get larger weighting in my thinking. If they make too many bad calls, i'll drop them from reading list.

The reason i tend to read other people's analysis, is because they have been doing this longer than i have and tend to have access to information and analysis that i don't have, and would not know how to interpret.

A lot of the strategist that i'm reading use the 50 day MA (or 50 day exponential MA) to determine the intermediate trend. Since the indexes are now trading below those MA lines, and the 50DMA lines look like they are ready to turn down, they are saying the up trend is trouble, and probably will be heading down.

Have read in other places where 20DMA and the 200DMA are also important, for the short term and long term trends.

For a purely technical look at the market, Saavy has a good read on the Naz:
saavycharts.info

Here's some good explanation for MAs:
stockcharts.com
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