Tag Archives: QQQ

Update; Key ETF Charts

A reminder that ETF charts are more a snapshot to current status than comprehensive TA.  Also, to save time the MACD (which is usually noted as green (positive) or red (negative) will be colored blue in ETF updates going forward.  The relevant point to the color coding is whether MACD is above or below zero.  Also, RSI is added and the charts have a new format.

GLD broke down from an unimpressive short term uptrend (low relative ‘up’ volume), keeping the long anticipated support zone in play.  That support zone is quite important.  GLD is neutral-bearish, but with a potentially bullish pattern.

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Stock Market; a Scenario

In 2001 my financial adviser advised that the people running my IRA would never allow the type of losses that I myself would suffer by trading.  Ehhhhhh… wrong!  -50% in a heartbeat.  Thanks MFS.  My wife got a 60% haircut compliments of Putnam.

I spent some time calling these fund companies pulling money out and putting it back in the markets.  In other words, I day traded them successfully, taking advantage of the bear market until finally I yanked every last penny from said financial adviser and his lame mutual fund companies and went DIY.  A couple years later biiwii.com happened and the rest is history, and a gain of several hundred percent on that IRA.

Anyway, preamble aside, this market has the potential to be like that phase where you successfully short the market, buy the market, short the market; i.e. trade the swings.  Take the QQQ chart for example…

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