QQQQ barely hanging on....

Hi everyone, here is the QQQQ six-month-daily linear-regression (LR) chart.

The QQQQs are below their 8, 13, and 21 DEMAs which are acting as upside resistance. The QQQQ OBV is negative and has been declining for several months. The Money flow is negative and declining. The Full STO is negative. Williams%R is negative and declining.

Here is the QQQQ six-month-daily chart with MACD, Momentum, and DMI.

The QQQQ MACD is about to go negative, the DMI is strongly negative, and the Momentum is negative.

http://bigcharts.mar...6&mocktick=.png

Cheers,

Bob-C

So your bullish?

Bob, Yes but as Mark has pointed out before the first cross macd is very often a st buy. Seen it many times. Also in looking at hourly spx charts as well as daily the Stoc, fast and slow are bottoming, fast bouncing off the bottom. Hourly giving the same. Your charts seem st bullish, it bearish. But mine don't. IM sure thats my short coming.. honestly. I wanted to get long just before the close but did not. Target missed by pennys. Could be a gosh send, who knows. But I really am on the fence here. PM me to explain my short comings if you will, most here already know of my Great fade record.

Tomorrow and first week of Jan up

Bob,

Yes but as Mark has pointed out before the first cross macd is very often a st buy. Seen it many times. Also in looking at hourly spx charts as well as daily the Stoc, fast and slow are bottoming, fast bouncing off the bottom. Hourly giving the same. Your charts seem st bullish, it bearish. But mine don't. IM sure thats my short coming.. honestly.

I wanted to get long just before the close but did not. Target missed by pennys. Could be a gosh send, who knows. But I really am on the fence here.

PM me to explain my short comings if you will, most here already know of my Great fade record.

Hi opinionated, good to hear from you. Thanks for your valuable information and insights, your opinions are always welcome. Yes, the QQQQs could briefly bounce off their MACD or weave above and below their MACD for a short duration before taking a dive. IMHO, the QQQQs have the potential for a sharp decline between now and January OPEX on January 16, 2009. Note, there is rampant bullishness depicted by the relatively low CPC and CPCE Put/Call ratios. Also, there were almost twice as many calls traded on the QQQQs today (Monday) as puts and the QQQQ OI (Open Interest) shows approximately 3M calls versus 2M puts. Note, always check the volume on all charts including the ID charts including the 60-minute ID chart that you mentioned above. Yes, the Stochs were rising on the 60-minute chart and along with them the volume rose as the QQQQs were IMHO, being distributed and then sold short to traders who were covering their QQQQ shorts which IMVHO, is standard merchandising procedure.

Here is the QQQQ daily chart depicting a negative MACD, a negatively inflected TRIX, and a negative Full STO.

http://stockcharts.com/c-sc/sc?s=QQQQ&p=D&yr=0&mn=3&dy=0&i=p40607608075&r=8642.png

Here is the QQQQ daily TL chart showing the QQQQs clinging to the upper TL of the QQQQ downward channel:

http://chart.nu/char...8&filter=21.png

Good luck on your trades,

Bob