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Saturday, October 27, 2007 9:15:08 AM
GM Board...wonderbuy.. to see direction on the QQQQ I went to a 1 1/2 year weekly chart and IMO its going to see a sustained move up for a considerable period of time unless global disaster trumps the trend...JMO based on what I see in the long term chart.
A 6 month daily chart paints a different picture...I wont post it to save bandwidth but on the daily the 3DSTO is oscillating downward on the 20 and 30 components but upward with the 10...IMO this is the effect caused by shorting action..the bears dont want to lose the tug of war..they will give up when the bulls gain full control and that will begin by seeing a firm definitive move upward with no choppiness by the 20 component on the 3DSTO.A near term cooling seems to be at hand though because of the "noise" generated by the candles over the last 12 trading days..there was a negative swing failure at upper bolie and bears are trying to make the most of it...FOR NOW(LOL)...Simple
weekly chart
A 6 month daily chart paints a different picture...I wont post it to save bandwidth but on the daily the 3DSTO is oscillating downward on the 20 and 30 components but upward with the 10...IMO this is the effect caused by shorting action..the bears dont want to lose the tug of war..they will give up when the bulls gain full control and that will begin by seeing a firm definitive move upward with no choppiness by the 20 component on the 3DSTO.A near term cooling seems to be at hand though because of the "noise" generated by the candles over the last 12 trading days..there was a negative swing failure at upper bolie and bears are trying to make the most of it...FOR NOW(LOL)...Simple
weekly chart
Simple
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