Unfortunately the daily charts are not overbought – histograms back above zero line, if transports lead then we are heading up… should have bailed on those shorts …. dang, dang, dang 🙁
so far this is a normal contra trend rally. it happens. the volume on this run up is less than the selling volume on the leg down. nothing to get worried about for now. Moving averages are still in bearish alignment. 30 and 60 charts overbought. you know whats going to happen dont you? there isnt anymore power left in the short term charts to push us over that falling trendline, I hope.
bounces happen. we’ll see.
YES!!! That should have some effect on the Q’s…
QQQ as of a couple days ago
Unfortunately the daily charts are not overbought – histograms back above zero line, if transports lead then we are heading up… should have bailed on those shorts …. dang, dang, dang 🙁
i agree z,
with the 30/60 min charts so overbought, the only bounces i forsee has to do with old reruns of pam anderson on baywatch!!
rimm taking a beating after hours.
looks like they changed it to QQQ.. instead of QQQQ
what happen to the QQQQ ? I dont see it listed anymore.
shows up nice on the 4 hour. we are even more overbought on the stoch and macd than the previous touch. thanks
SPX Chart:http://niftychartsandpatterns.blogspot.com/2011/03/s-500-analysis-after-closing-bell_25.html
so far this is a normal contra trend rally. it happens. the volume on this run up is less than the selling volume on the leg down. nothing to get worried about for now. Moving averages are still in bearish alignment. 30 and 60 charts overbought. you know whats going to happen dont you? there isnt anymore power left in the short term charts to push us over that falling trendline, I hope.
bounces happen. we’ll see.