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Dimitris,
Pardon me for trying to hijack your considerable talents from 'other'
current interests...
But I know that your strengths are in the following areas:
1. Pattern recognization
2. ^NDX technical analysis
Take a look at the 9/30/03 QQQ EOD chart and you will see an almost
perfect 'uptrend channel' SUPPORT setup consisting of the following
attributes:
* Draw a lower trendline beginning on 3/12/03 @ 24.23 (close).
* Continue the trendline thru 8/8 and 8/11 lows.
* And conclude the trendline thru todays (9/30/03) lows.
WHAT a nice SUPPORT line, huh?
THEN...
* Draw an Upper trendline beginning on 3/21/03 @ 27.38 high.
* Continue an EXTENDED trendline thru 6/6/03 HIGH and thru 7/9/03
close of 32.20 to present
WHAT a nice CHANNEL, huh?
I am trying to figure out how to code a pattern recognization system
that would trigger a QQQ 'support' signal either yesterday or today in
order to 'trade the channel'.
This channel is clearly 'uptrending'... but a robust 'channel'
recognization sytem would pick up on 'horizontal' channels as well as
'downtrending' channels, with the objective being to identify
support/resistance using channels.
Do you have any ideas on how to code a pattern recognition system to
signal either 'upper', 'lower' or horizontal channel
support/resistance signals over a three to six month period?
While I'll continue to work on it myself, I figured that you might be
interested in taking a look at the problem.
(One troubling aspect of the current 'support' level is that volume is
rising when I'd prefer to see it declining.)
Regards,
Phsst
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