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Strategies & Market Trends : Playing the QQQQ with Terry and friends. -- Ignore unavailable to you. Want to Upgrade?


To: fiboman who wrote (1124)7/1/2005 10:10:06 PM
From: J.K.  Read Replies (2) | Respond to of 4814
 
...agree to a point, except that the volume exchanged at 37 was not that much - I think it is more psychie than a technical resistance. I think we could move through there relatively smoothly.

I am looking at 36.70 as the key line, which was the low on Monday and today (approx.) and hoping, praying, for a tiny double bottom-type bounce.

Tuesday after the 4th I'd expect to be a positive day for the markets.

Still long 1X the Qs from about the 36.85 level.



To: fiboman who wrote (1124)7/6/2005 12:00:20 PM
From: fiboman  Read Replies (1) | Respond to of 4814
 
SOX - There is a lot going on in this chart. Most important is the 5 Day Directional Movement Oscillator, (DMO).
DMO = DI+ - DI-.

As the MACD with Bierovic parameters, this small parameter oscillator is a leading indicator. (Evidence: fairly consistent divergence signals). The last signal is a confirmation rather than a divergence.

The slanted neckline on the Inv H&S pattern is pure magic.

ttrader.com