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NDX

Started by hiker , Aug 26 2008 06:30 PM

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7 replies to this topic

#1 hiker

independent trader

TT Member*
12,118 posts

Posted 26 August 2008 - 06:30 PM

why can't it easily go either direction from here?

http://stockcharts.com/h-sc/ui?s=$NDX...id=p27874013387

in my opinion, the fact the 200-period sma on the 60-minute held today when tested may not mean anything.

NDX and the 68wk ema -

http://stockcharts.com/h-sc/ui?s=$NDX...id=p16734272199

QQQQ:

46.64 is the 8wk ema
46.72 is the 34wk ema
46.46 is the 68wk ema

all of these reside above QQQQ price

QQQQ daily -

http://stockcharts.c...id=p33769290898

Edited by hiker, 26 August 2008 - 06:45 PM.

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#2 hiker

independent trader

TT Member*
12,118 posts

Posted 26 August 2008 - 06:52 PM

for macro picture, one other item to consider -

http://stockcharts.c...id=p33572415779

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#3 eminimee

I don't care who's fur is flying...

TT Member
14,307 posts

Posted 26 August 2008 - 07:07 PM

it can...and it will go in either direction

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#4 hiker

independent trader

TT Member*
12,118 posts

Posted 26 August 2008 - 07:14 PM

it can...and it will go in either direction

---------

this is your chart, Tea, posted a while ago -

http://stockcharts.c...&...1593&r=6619

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#5 jjc

Member

Traders-Talk User
2,886 posts

Posted 26 August 2008 - 07:24 PM

"in my opinion, the fact the 200-period sma on the 60-minute held today when tested may not mean anything" I agree. You have to worry about an overnight jumping of the creek. I expect it will (usdjpy).

Edited by jjc, 26 August 2008 - 07:29 PM.

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#6 eminimee

I don't care who's fur is flying...

TT Member
14,307 posts

Posted 26 August 2008 - 07:27 PM

it can...and it will go in either direction
---------

this is your chart, Tea, posted a while ago -

http://stockcharts.c...&...1593&r=6619

and a great chart it is.. lol...
..you don't think I'm getting bullish do you?.

Edited by Teaparty, 26 August 2008 - 07:28 PM.

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#7 SemiBizz

Volume Dynamics Specialist

Traders-Talk User
23,217 posts

Posted 26 August 2008 - 07:29 PM

Was looking at candle counts on the COMP vs NDX vs QQQQ and we have quite a divergence in candle trends. NDX presents a bullish picture, but when I looked under the hood, the COMP and QQQQ are still in confirmed downtrends...

Looking a little closer into the 4 Horsemen components... only AAPL is in a new uptrend. I think it pretty much boils down to whatever AAPL does will tell us the direction ahead.

To me this looks like it has all the characteristics of a fake-out move. If I am correct then we'll see the failure start with AAPL and spread....

The move off the high volume low (7/22) on AAPL is completely bogus IMO, and we'll see that 146 area tested again real soon...

But maybe not this week on light volume month end markup...

Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics

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#8 ogm

Member

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13,780 posts

Posted 26 August 2008 - 10:48 PM

I think just about every chart is sreaming that NDX will be slaughtered. Take a look at weekly/monthly charts on GOOG, RIMM, AAPL, BIDU, ISRG, NDX itself and many others. They are screaming "Sell me !" There is very little doubt about the next move direction. Just the timing. a few days sooner or later. And the funnymental backup is there. There is mass delusion that somehow global slowdown won't affect the earnings of these overbloated high P/E stocks. Plenty of room for dissapointment.

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NDX

#1 hiker

#2 hiker

#3 eminimee

#4 hiker

#5 jjc

#6 eminimee

#7 SemiBizz

#8 ogm

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