6 replies to this topic

[eminimee]

http://stockcharts.com/c-sc/sc?s=$NASI&p=M&st=1998-06-01&i=p38264973047&a=38924473&r=2479.png

[borland]

Nice! - The tightening Bollinger's bands on your monthly Nasdaq McClellan Osc ($NASI) also confirms your wedge. - RSI oversold and at 7 year lows, when BB's started expanding.

Edited by borland, 10 August 2007 - 07:38 PM.

[Jnavin]

No question about the monthly low being put in. Trouble is: we're only half-way through the month. More low might be coming and the chart still fits.

[underabigw]

Teaparty, I really like your work and appreciate your posts. I'm new here but I am trying to learn. I see something different than what the others see. I see NASI summation index showing a non confirmation of the recent highs. I also see that the RSI is lower than any other time since the beginning of the decline in 2000 and it still has not turned up yet. Help me out a little if you will on how I should interpert your chart. Needless to say, I'm short so this is a chance for me to see if I am seeing what I want to see of if I am making a rational analysis. Again, thanks for sharing your work.

[borland]

ubigW, The chart is bullish on the monthly basis. Look at the green vertical lines which shows $NASI major lows... price is confirming those lows. The current RSI is consistant with another major low. If you look at the weekly's, they are also quite oversold with bullish candlesticks. The $VXN on the daily is showing a candlestick top, which is bullish for stocks. Jnavin points out that it's the monthly, but if you simultaneously trade off multiple timeframes, such as the 5 minute, 15 minute, and 60 minute, trade setups are the most powerful and at the lowest risk. So a good trader knows how the markets behave in different time intervals. Good luck with the trades.

Edited by borland, 10 August 2007 - 09:42 PM.

[underabigw]

Borland,

Thanks for clarifying things. I missed the green lines. I see what you are
saying in that they mark the bottoms. Like I said, I was seeing what I wanted
to see.

Thanks again and good luck with your trades as well.

Teaparty,

I really like your work and appreciate your posts.

I'm new here but I am trying to learn. I see something different than what the
others see.

I see NASI summation index showing a non confirmation of the recent highs. I also
see that the RSI is lower than any other time since the beginning of the decline in 2000
and it still has not turned up yet.

Help me out a little if you will on how I should interpert your chart. Needless to
say, I'm short so this is a chance for me to see if I am seeing what I want to see
of if I am making a rational analysis.

Again, thanks for sharing your work.

[eminimee]

Just says a low may be close....it's not meant to say we have a bottom in.