Die-Hard NASDAQ

For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.

Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:


S&P 500 Weekly

Here's the daily chart of the Dow:

Dow Daily

And the daily of the NASDAQ:

NASDAQ Daily


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Quoted

"I keep cutting my position size down as I have losing trades. When I am trading poorly, I keep reducing my position size. That way, I will be trading my smallest position size when my trading is worst." ~ Paul Tudor Jones
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This page contains a single entry by Michael published on May 29, 2003 6:33 PM.

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