I closed my Qs calls this am on the initial pop-up for a net gain of zero. Ditto on the IWMs except I took a .03 loss due to volatility adjustments by the market makers.The VIX showed the wide range, high close bar on a parabolic curve that I was expecting. At the same time the Qs displayed a wide range, close low bar right at the 50 day MA. Qs volume today was the highest since February 27th and with 7 down days on increasing volume the Qs may be ready for a breather. However,with a closing TICK of -680 and all technicals deteriorating, expect more downside follow-through to precede any turnround on Monday.
Clueless has examined the data on a weekly timeframe, and that scenario looks a lot more iffy. Take a look.
2 comments:
That's strange, Tradestation is showing the 50DMA down at 46.75, with clear air between "here" and "there", is this more "Street" bull shit, after all, we get our data from them.
Cucca,
I actually use the Schwab Cybertrader/SSPro platform but don't post those charts because they don't format on Blogger very well. SSPro shows the Qs 50DSMA at 47.99 and shows the 50WSMA at 43.99. This aligns with the stockcharts data.
ps: never heard back from davej, but that's ok. It's his deal & he can run it as he chooses.
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