Posted in Daily Comment, QQQQ on Apr 21st, 2008
I haven’t had much to add the last few days so I took a break from updating. Prices have bounced nicely from the uptrending moving averages, and were signalled by an oversold double stochastic and a tail left on the candle. I had concerns about that set-up failing as prices fell below the averages with [...]
Posted in Daily Comment, Market Profile, QQQQ on Apr 15th, 2008
Stock indexes edged a bit higher today, even with crude oil blasting off to new all time highs and other inflation worries in the news. The chart of the Nasdaq/QQQQ to the left shows a tail left on the candle today. I put a cyan circle around the tail. This implies price rejection as prices [...]
Posted in Daily Comment, QQQQ on Apr 13th, 2008
The stock indexes fell throughout the day on Friday. The news is attributed to the earnings miss by GE, but more important was the less than optimistic outlook going forward. I pointed out the momentum divergence on this blog a few days ago, suggesting some pullback was in order. I also drew some potential support [...]
Posted in Daily Comment, QQQQ, SPY on Apr 9th, 2008
Stock indexes fell again today. I didn’t update yesterday as there hasn’t been a change since the post from last Friday. Also, I was trying to get my taxes done. I didn’t want to wait until the last minute this year. So this year I’m getting them in a week early. That’s a slight improvement. [...]
Posted in Daily Comment, Gold, QQQQ on Apr 1st, 2008
Stock indexes rallied sharply today. The indexes gapped up right from the open and actually extended the range in trend mode throughout the day, and on increasing volume. The chart to the left is of the Nasdaq/QQQQ. I previously posted this developing chart. I noted the change in trend to up, and the subsequent pullback [...]