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I do not know how to make the chart go to the e-mail, but if you look what
happened to the Nasdaq (let say, Composed) when it move thought 2000 for
the first time, that what I expect it to do now.
Uneducated Alex.
At 10:47 AM 11/4/99 -0600, Donald E. Thompson wrote:
>Besides,
>QQQ on 60 min chart is wedging up .... Usually a short term place of
>stalling.
>
>Don
>
>ROBERT ROESKE wrote:
>>
>> A contrary view, the Favors Trin5(codi) is near the Sell alert band as the
>> momentum oscillator and the 5 day RSI, indicate there should be some
>> pullback in the NDX.
>>
>> BobR
>>
>> ----- Original Message -----
>> From: Bill Bancroft <bbancroft@xxxxxxxxx>
>> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxx>
>> Sent: Thursday, November 04, 1999 7:25 AM
>> Subject: Nasdaq ready to MOVE
>>
>> > I trade using a mechanical model, and that model has me out of the
>> > market right now due to high interest rates and poor breadth. Having
>> > said that, I have attached a weekly chart of the Nasdaq that contradicts
>> > that outlook.
>> >
>> > First, the price has broken out of a trading range to new highs.
>> > Second, momentum has broken out of a triangle and is heading higher
>> > (assuming the market closes the week where it is at right now--big
>> > assumption).
>> > Finally, and perhaps most importantly, the weekly ADX is at a very low
>> > level reflecting the recent trading range. The ADX indicates the amount
>> > of trendiness in a market, it does not indicate direction. The low ADX
>> > is saying that the market is ready to trend. Considering the first two
>> > points I made, the direction of that trend looks to be UP. If the
>> > Nasdaq can not stay above the recent trading range, that would be a
>> > signal that the market may be ready to trend DOWN. Either way, the the
>> > point is, this market is ready to MOVE.
>> >
>> > If one didn't want to try to call the direction of the market, one could
>> > buy a straddle---a put and call of the same strike price.
>> >
>> > Bill Bancroft
>> >
>>
>> ----------------------------------------------------------------------------
>> ----
>>
>> ------------------------------------------------------------------------
>> Name: CODIndx.gif
>> CODIndx.gif Type: GIF Image (image/gif)
>> Encoding: base64
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