Success.
On the Feb 4 posting, when QQQQ was at 42.62, I went on record that QQQQ would reach 44.47. This was accurate, as QQQQ hit 44.05 on Feb 19.
Now, I expect the QQQQ to now move back down to 42.21, last QQQQ is 44.76.
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
Showing posts with label Primary forecasts. Show all posts
Showing posts with label Primary forecasts. Show all posts
Sunday, February 28, 2010
Tuesday, February 23, 2010
A ONCE A YEAR bearish event, happening now
I have many bearish indicators going on right now. From a longer term perspective, look at the chart below.
We are experiencing right now a ONCE A YEAR event that marks an excellent opportunity for swing and multi-month position trades.
The chart below is the more powerful WEEKLY chart of QQQQ. Charts for SPX DOW are similar.
The most salient thing about the chart is the MACD. Notice that I've numbered 1,2,3,4,5,6. Last week, we experienced an UPTICK on the MACD histogram. Is that bullish? Well, notice that the NORMAL PATTERN when the MACD hist falls below zero is a small valley that goes down, then up. But notice also that THE LARGER VALLEY normally follows. I believe this is what we are experiencing here. Notice that 2 <1, 4<3, and 6<5???
This is one reason, among many, that I believe that the DOW will not make it over 10,754 in 2010, that the DOW high for the year is in (DOW charts are similar).
Also notice the following (bearish):
1. Bearish RSI dbl top on 9/14 and 1/11 with RSI bear failure swing below the 58 RSI (It's previous low).
Bullish warnings on the chart:
3.) Stoch hooking back up... does it want to re-visit 80? If so, then we would likely see a double top or even a higher high for the year.
4. The RSI has a failure swing (bearish) but it remains over 50 and it is trying to hook back up.
However, for 3 and 4, remember that this is a weekly chart, and it's Monday, so this could all change by end of this week.
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
We are experiencing right now a ONCE A YEAR event that marks an excellent opportunity for swing and multi-month position trades.
The chart below is the more powerful WEEKLY chart of QQQQ. Charts for SPX DOW are similar.
The most salient thing about the chart is the MACD. Notice that I've numbered 1,2,3,4,5,6. Last week, we experienced an UPTICK on the MACD histogram. Is that bullish? Well, notice that the NORMAL PATTERN when the MACD hist falls below zero is a small valley that goes down, then up. But notice also that THE LARGER VALLEY normally follows. I believe this is what we are experiencing here. Notice that 2 <1, 4<3, and 6<5???
This is one reason, among many, that I believe that the DOW will not make it over 10,754 in 2010, that the DOW high for the year is in (DOW charts are similar).
Also notice the following (bearish):
1. Bearish RSI dbl top on 9/14 and 1/11 with RSI bear failure swing below the 58 RSI (It's previous low).
2. Bearish RSI divergence on 9/14 and 1/11. Note that prices rocketed while the RSI only double topped..
Bullish warnings on the chart:
3.) Stoch hooking back up... does it want to re-visit 80? If so, then we would likely see a double top or even a higher high for the year.
4. The RSI has a failure swing (bearish) but it remains over 50 and it is trying to hook back up.
However, for 3 and 4, remember that this is a weekly chart, and it's Monday, so this could all change by end of this week.
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
Subscribe to:
Posts (Atom)