NDX, what an interesting crossroad
Started by
Chilidawgz
, Jan 05 2007 05:30 AM
2 replies to this topic
#1
Chilidawgz
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A fool and his money... (the second mousie gets the cheese)
Posted 05 January 2007 - 05:30 AM
Here is the longer channel, the top is around 1820 or so and smaller time frame price channels. First the NDX needs to break out of that pitchfork, then break out of the top channel line. If that occurs, is it a breakout to higher prices/using the Chapman Wave a point A and a new cycle higher? My trading model is just starting to roll into a buy position after having been bearish since late November. Weeee!
Anything can happen...what's happening now?
No one can forecast the future. No one.
All stocks (ETF's) are BAD...unless they go up - William O'Neil
When The Time Comes To Buy or Sell, You Won't Want To - Walter Deemer
#2
redfoliage2
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Member
Posted 05 January 2007 - 07:08 AM
The break-out is likely. The street believes that a Democratic-led Congress is good for the techs and that's probably the cause of the big rise in techs yesterday.Here is the longer channel, the top is around 1820 or so and smaller time frame price channels. First the NDX needs to break out of that pitchfork, then break out of the top channel line. If that occurs, is it a breakout to higher prices/using the Chapman Wave a point A and a new cycle higher? My trading model is just starting to roll into a buy position after having been bearish since late November. Weeee!
#3
johngeorge
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Posted 05 January 2007 - 09:48 AM
Great chart Chili, thanks. Gotta agree Q's looking higher here. Havent got a buy signal on the NASI yet, however, with a RSI (7) @ I0.37 
and MACD/SAR buy on QLD daily. There is a gap on the 30 minute QLD chart from 81 to about 82.23 on Jan 3. We may visit there before moving higher 
Also I notice BC is again/still recommending a buy. I am looking to go long, but, may wait until next week.
and MACD/SAR buy on QLD daily. There is a gap on the 30 minute QLD chart from 81 to about 82.23 on Jan 3. We may visit there before moving higher Also I notice BC is again/still recommending a buy. I am looking to go long, but, may wait until next week.
Peace
johngeorge
johngeorge
