Playing the QQQQ with Terry and friends. Message Board

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Strategies & Market Trends : Playing the QQQQ with Terry and friends.

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From: fiboman	6/3/2005 12:44:28 PM
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When I first posted the QQQQ chart with the True Strength Index I mentioned that it was closely related to the Price Oscillator or MACD. This chart shows both with Bierovic parameters. As is well known, the Price Oscillator has an open ended scale whereas the True Strength Index is bounded. For all practical purposes, the TSI behaves like an unbounded indicator. The theoretical upper and lower bounds are +100 an -100. +25 and -25 are regarded as overbought and oversold levels. I have never seen it go above 50 or below -50. Since MACD is almost universally available at chart sites, but the TSI is not, there is no reason not to use MACD ttrader.com This chart shows that QQQQ broke out of a descending wedge. The target is the top of the wedge. The fact that QQQQ is hung up at the spike high from mid-February should not come as a surprise. The MACD reversals have un uncanny way of tracking the price reversals. The are a great source for divergence signals. One can also draw chart patterns on MACD.

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