| Sunny's_Dynamic_Moving_Average (SDMA) has been green (buy-mode) since
8/8/2006, at a price of 11,076 on the Dow. Today's close was at
11727, giving approximately 650 points profit since the signal. |
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| The SDMA has turned in topping fashion, and the green line has crossed
under the yellow average line, telling me this is a good time to be taking
profits. Further, stochastics is topping near 85, signaling topping
action as well. I am carefully watching 11,655 for a breakdown, and
would take profits immediately if this support is broken. Otherwise,
hold on for more upside action. The daily average range is about 100 points, so stay out of the way of intraday swings of less than 100 points, avoiding whipsaws. |
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| Intraday the QQQQ chart has been falling over the last 2 days, with
the SDMA giving the crossing signal on September 29, just before the
close. The short signal was completed today, with a signal on the
SDMA to go long at 9:15am PST. The long signal still stands, with a
mild loss holding overnight.
Stocastics has turned down from its high and will probably have to blow off steam by bottoming and turning again before we see profit in this move. I would get out if QQQQ drops below 40.08 intraday; that would signal the breaking of near-term support and probably reverse the signal. I would look for profit taking at the 40.88 level, putting a stop in when it reaches that level. If it breaks below after penetrating, then take profits, else let it run and continue to follow the signal.
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| The 1-minute chart also signaled long at 9:15am PST, as shown above on the purple and gold indicator lines (SDMA). Stochastics on the 1-minute chart is low at 31, and poised to move upward. Watch this chart intraday for profit-taking opportunities and an early signal possibility. | |
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