SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Jim's Nasdaq100 Special as a basket. -- Ignore unavailable to you. Want to Upgrade?

To: chartseer who wrote (831)6/6/1999 8:43:00 PM
From: Smooth Drive  Read Replies (2) | Respond to of 2103
 
Hello Seer,

I'm doing fine -- thanks for asking. Besides you, I really don't know if our charts are of interest to the active thread or lurkers. For that reason I haven't kept them current.

I have appreciated you keeping the QQQ Bullish Percentage chart up to date. The one we're posting here is a daily, as opposed to a weekly, which Chartcraft and Dorsey use. For those that don't know, the EOD P&F charts that AW Cohen popularized are one of the very few TA charts that depict a clear buy or sell signal. That is, a P&F chart is never neutral. It's either on a buy or sell signal. Each day Chartseer looks at the 100 stocks that make up the QQQ and tells you how many are on a buy signal. There is a relationship between the index and where QQQ is going.

Current picture as follows: 

114                                              X   * < BRRL
112                                          X   X O X *       
110                                          4 O X O 5 O *
108                                          X O X O X O   *      
106                          X           X   X O X O X O
104                      X   X O         X O X O X O   O X
102                      X O X O X   X   X O X O X *   O X
100                  X   X O X 2 X O X O X O X O X   * O X      
99                   X O X O X O X O X O X O X O X     O X
98                   X O X O X O X O X O X O X O       O *
97                   X O X O   O   O X O X O               *
96                   X O X *       O X O X *  
95                   X O X   *     O X 3 X   * 
94                   X O X     *   O   O       * < BRSL
93                   1 O X       *   +           *
92                   X O           *               *
91                   X           +   *               *
90                   X         +       * < BRSL        +
89                   X       +           *           +   *
88                   X     +               *       +
87                   X   +                   *   +
86                   X +                       +
85                   X                       +   *
84               X   X                     +       *
83               X O X                   +           *
82           X   X O X                 +               *
81       X   X O X O                 + < 1st BLRL        *
80       X O X O X                 +                     +
79       X O X O                 +                     + 
78       X O X                 +                     +
77       X C                 +                     +
76       X                 +                     + 
75       X               +                     +        
74       X             +                     + < BLSL
73       X           +                     +
72       X         +                     +
71       B       +                     +
70       X     +                     +
69       X   +                     +
68       X +                     +
67       X                     +
66     + X                   +
65   +   X                 +
64 +     X               +
63       X             +
62   X   X           +
61 O X O X         +
60 O X O X       +
59 O X O       +
58 O X       +
57 O X     +
56 O X   +
55 O X +
54 O +
53 +

BulLish Support Line (BLSL); BulLish Resistance Line (BLRL); BeaRish Support Line (BRSP); BeaRish Resistance Line (BRRL) and High Pole Formation (HPF).

QQQ's chart is long term bullish (trading above the active BLSL which is down at 80) and short term bearish (on a sell signal that occurred at 102). Given that this chart has reversed up, and that the Bullish Percent chart depicted below has reversed up - - well, let's watch and see. The unofficial BRRL at 110 will offer resistance as will the previous horizontal resistance points.

QQQ BULLISH PERCENT CHART

The grand ole P&F Sicilian Master Chartseer has been keeping daily QQQ Bullish chart data since 3/12/99. The daily chart looks like this: 

74             X
72             X O
70 X           X O
68 X O     X   X O
66 X O     X O X O
64   O     X O X O
62   O X   X O X O
60   O X O X O X O
58   O X O X 5   O
56   O X O X     O
54   O X O X     O
52   O X O X     O
50   O X O X     O X
48   O X O X     O X
46   O X O X     O X
44   O X O X     6
42   O X O X
40   O   O


This Bullish % chart is in Bear Correction risk status. (50% of the 100 stocks that make up the QQQ are on a P&F buy signal. And that means the other 50 are on sell signals.)

BULLISH PERCENT RISK STATUS DEFINITIONS:

BULL CONFIRMED: Occurs when a column of X's moves above the previous column of X's.

BULL CORRECTION: Occurs when a column of X's in Bull Confirmed risk status reverses down to a column of O's and 1) does not move below the previous column of O's, or 2) reverses down from above the 70% level but does not move to the 68% level or lower.

BULL ALERT: Occurs when a column of O's in Bear Confirmed risk status drops to the 30% level or lower, and then reverses up to a column of X's and does not move above the previous column of X's.

BEAR CONFIRMED: Occurs when a column of O's moves below the previous column of O's.

BEAR CORRECTION: Occurs when a column of O's in a Bear Confirmed risk status reverses up to a column of X's, and does not move above the previous column of X's.

BEAR ALERT: Occurs when a column of X's in Bull Confirmed risk status moves to the 70% level or higher, and then reverses down to a column of O's that drop to the 68% level or lower, and does not move below the previous column of O's.

NOTE: The above is just for grins and chart discussions. No recommendations of any kind are being made or suggested. Everyone needs to do their own DD or seek professional help when making investment decisions.

Take care,

Eric


HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News