Friday, October 30, 2009

A Qomplete Reversal

Yes. . .I know how to spell. I post this only because it reflects a complete change of character and momentum in the Qs. . and it happened in one day.
We got another nice clean VIXEN signal (per yesterday's post) at 10:10 this morning, this time to the upside, and it held for the remainder of the day.
Plus, there were two nice bull trend confirmations to support the probability of an uptrend day.
1 . .the 3 composite MAs all remained upslope for the duration of the day, and
2. . the NYAD never fell below the initial opening pullback line. This is particularly significant and reflects solid buying strength (or short covering) throughout the day.
Although volume was about 15% sub par today, there was solid buying into the last 15 minutes so I'm expecting a carry over of the buying into Friday.
The Qs month end Tickler system is flashing a late buy signal.

1 comment:

old crow said...

Look at today's 11:05 turn
3 wild days in a row