Tuesday, July 28, 2009

Qs Soggy Bottom

Here's another example of the Soggy Bottom pattern from yesterday's Qs action.
Just as in the original post, the Qs inability to hit the S1 pivot led to a subsequent display of strength. Just compare the original chart with this one and not the many similarities.
Immediately after the Soggy bottom, the MACD crosses the zero line to the upside.
The MAs cross and turn upslope.
The parabolics fire a BUY signal , and
The MACD (or Signal Lines) cross and head upslope.
All signals were bullish and all confirmed.
For future reference. . .an alignment not to easily dismissed.
FYI, regarding the VWAP indicator I mentioned last week....the Qs price has closed above the VWAP for the past 13 consecutive days.

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