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Strategies & Market Trends : Playing the QQQQ with Terry and friends.
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To: rab120 who wrote (429)5/26/2005 3:12:52 AM
From: Walkingshadow  Read Replies (2) of 4814
 
I think the settings on your momentum indicators are misleading.... the stochastic especially.

Take a look at these, I think you will see that they make much more sense:

139.142.147.218

The momentum indicators are all consistent with the chart; everything shows very early but definite sell signals from extreme overbought territory.

I think the stochastic will cycle down no lower than 40, and then will reverse. There is a trend line across the tops of the stochastic peaks, beginning in December and sloping down. That line was broken to the upside recently, and will be support as the stochastics cycle back down.

So 40 - 50 will define the new oversold zone for QQQQ, and will be a very likely reversal point.

T
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