Dax - Central Europe,
Because it is little stormy in here ended to post one chart more.
Since 7:th of this month DAX has been doing 5 higher highs for hourly chart and latest one was done today.
It occured in US hours which is also first time for decades any important swing (waves) ends for non-globex hours. There has been only few sessions so far where swings might end for last hour however in US, while next day Europe takes the actual lead of the swing.
Today was expection in the manner. US finally finished something.

Category: Technical Analysis Tags:
Long & short trades against the index
One of the subjects that I get the most questions about is the method I use for trading technology stocks; long and short. I have written about it in the past and certainly have been fairly broad when discussing it which has generated more questions.

Category: Fundamental Analysis Tags:
QQQQ Becomes QQQ Again
PowerShares is changing the ticker symbols for 10 of its ETFs starting with tomorrow’s (3/23/2011) opening of trading. Included in the changes are the PowerShares QQQ Trust along with the nine small cap sector ETFs that were the subject of a lawsuit filed by the Select Sector SPDR Trust.
I never understood why PowerShares . . .

Category: Fundamental Analysis Tags:
iPath SP 500 VIX Short-Term Futures ETN (VXX)
iPath SP 500 VIX Short-Term Futures ETN (VXX) chart updated ;
1) Glad to see the VXX (my only holding) doing quite well (Japan situation was NOT expected, but the volume pattern on that ABC move was quite "early" to spot a bearish reversal for the SP 500)
2) We basically have a full ABC buy trigger
3) Great way to "short" the market ..... But !!! Go "LIGHT" on the shorting , main long term trend is still bullish ($SPX, $QQQQ .....etc ....)

Category: Technical Analysis Tags:
Technical Picture - Bears Own It
The index futures rolled over night amid disappointing data from Japan and China, as well a debt downgrade in Spain. Above consensus initial claims exacerbated the situation and we opened with a huge gap down. The first hour pushed prices low and the next hour established a floor, from which some buyers stepped in.

Category: Technical Analysis Tags:
ProShares UltraShort QQQ ETF (QID)
Fight of the week ;
PowerShares QQQ Trust, Series 1 ETF (QQQQ) versus the ProShares UltraShort QQQ ETF (QID).The chart above is the regular long QQQQ ; Last two candles are fighting hard to remain above its 50 days exp MA.When you look at the chart of QID ; Price is fighting hard to get above its 50 days exp MA.Buy trigger for QID stands right above $11Gut feeling ? Market is probably oversoldGut feeling (2) ; Bad news out of Libya is far from over .....

Category: Technical Analysis Tags:
Apple Inc. (AAPL) will lead techs in a pull back ?
Apple Inc. (AAPL) chart analysis ;
1) See the recent post on VXX (QQQQ and the SP 500 are highly overbought)
2) Is Apple our current leading indicator ? Down over 1.40% right now
3) Most techs stocks are facing a small parabolic rise, time to enter a channel pattern.
4) All indicators are still very BULLISH !
5) Allow a pull back, then consider a buy on the dip approach

Category: Technical Analysis Tags:
Consumer Discretionary and Nasdaq 100 Hit Short-Term Overbought Extreme
The market marched higher again today and pushed quite a few of the ETFs I follow in an overbought state.
However, only Consumer Discretionary (XLY) and the Nasdaq 100 (QQQQ) ETFs hit a short-term overbought extreme, but neither have RSI (2) readings above 95 so I am only watching from the sidelines for now. If they [...]
Guesstimates on February 14, 2011
March S&P E-mini Futures: Today's range estimate is 1320-1334. Next upside target is 1336. By the end of April this market will have traded at 1380.
QQQQ: The 58.50 target has nearly been reached. Support is at 56.75. Next upside target is 60.00.
TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

Category: General Market Tags:
Guesstimates on February 11, 2011
March S&P E-mini Futures: Today's range estimate is 1308-1320. Next upside target is 1330. By the end of April this market will have traded at 1380.
QQQQ: I think the market will rally to 58.50.
TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

Category: General Market Tags:
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