The Dow, S&P and Nasdaq each had outside days today although they closed within yesterday's ranges. Volume increased across the board which isn't surprising given that today was a quadruple witching day. Still, the charts don't care about that and I have to look at the volume increase on a down day as distribution.
I haven't posted a chart with Multiple Moving Averages (MMA) in a very long time. It's something that I do still use when looking at charts and I find them very helpful. I don't post them often because I don't think they show up well on the small charts I post. But here's a look at the QQQQ's MMAs which show that the longer term group of averages is flipping to a bearish posture. If I were swing trading I wouldn't be fully bearish just yet. I'd want to see the long term group fully invert and then start to spread apart. If that happens I'd look for the short term group to rally up to the long term group and then get repelled.
The Nasdaq actually broke its downward sloping trendline. Let's see if it can stay above it and make a high higher than 2405.
The S&P 500 got above its trendline for a little while today but rolled over and closed beneath it.
If I did a recap yesterday I would have switched the short term trends to up due to the 10 DMA breaks. But they rolled over today and closed back under the 10s, except for the Russell. So I'm updating the chart as if I had also done an update yesterday. It's interesting to note that the vicinity of the 10 DMAs seems to be a selling zone now.
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Up | Up | Up |
| Intermediate | Down | Down | Down |
| Short-term | Down(-) | Down(-) | Up |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
QQQQ short term charts (da drop) looks a lot like gold is'nt it?
how do you have daily charts w/ medved quote tracker? is it your feed? i subscribe and only get 10 days.
nevermind - that was easy! sometimes i got my setup watch the stock and close shop, dont look around or try all the features - ya know - thanks for the chart mike - without it i would never have looked around for HIST - thanks bro