6 replies to this topic

[CLK]

The way I see it......52-56 is the next target above the channel.




http://stockcharts.c...0165&r=1409.png

[traderpaul]

If the index is making all time high.....Why the RSI is below 70?....and......MCAD is turning down?....and....QID (Q short) went up with the COMPQ up 9 points Friday while the QLD (Q long) went down???

Edited by traderpaul, 03 June 2007 - 02:23 AM.

[...]

Why [did] (...) QID (Q short) went up with the COMPQ up 9 points Friday while the QLD (Q long) went down???

Ah, could it be because the Nasdaq Composite index is a separate and almost completely different index than the Nasdaq 100 (the NDX being a subset of the Nasdaq Composite) or its NDX/QQQQ derivatives, QID and QLD?

QID/QLD were up/down mere pennies, just as the NDX was approximately unchanged. It's always good to understand what underlies any given derivative before forming conclusions about either.

[CLK]

If the index is making all time high.....Why the RSI is below 70?....and......MCAD is turning down?....and....QID (Q short) went up with the COMPQ up 9 points Friday while the QLD (Q long) went down???

MACD has been down....it is now turning and crossing up. RSI fell because
the parabolic ended.....now the consolidation is over.

[thespookyone]

"MACD has been down....it is now turning and crossing up. RSI fell because the parabolic ended.....now the consolidation is over." I guess if you start out with a premise-you start adding things up to justify it. First, that appears to be a fairly creative uptrend line you drew across the top points-you seem to like to not draw across the actual peak, from the very start-and allowed "quite a bit" of room on that Feb 06 area, no? Of course if those lines were drawn across the actual tops-it probably wouldn't have broken out of the channel-but smacked into the top again-in this case into multi year resistance, hmmm. To me the negative divergence "is what it is" on the macd and rsi-and I feel no need to explain them away. But, while you attempt to "smooth out the bumps here", what about VOLUME? Why is it that the huge sticks are almost exclusively on down days? And what about the ADX-where is this buying pressure hiding that will cause this big push up?

Edited by thespookyone, 03 June 2007 - 10:20 AM.

[selecto]

Decision Point: With the ascending wedge the two boundary lines move upward with the lower line having the steepest angle of ascent. This formation will normally resolve downward because the steepest angle of ascent is usually the least sustainable.

Hmmmmm. Have we gone too deep?

[attachment=5629:attachment]

[CLK]

The line drawn in the above chart was to point out the false
breaks, which were many.

http://stockcharts.c...5128&r=1124.png

Edited by CLK, 03 June 2007 - 02:15 PM.