IntraDay QQQQ Analysis
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| The SJH_DMA is still gold above purple, showing buy side
opportunities. Stochastics is still below the 40 level, showing buying
opportunities in weakness. Nothing about today's trading showed any
buy signals or any sell
signals. The play for the day was to sit tight and hold onto the
long position.
On a 15-minute basis the market looks a little different. While yesterday reached up and achieved new highs, today was a cooling off period drifting sideways. On a 1-minute basis it was wildly choppy, but on the 15-minute chart it was just a lazy drift. The SJH_DMA Histogram turned red, showing the possibility of a new shorting opportunity.
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Dow Analysis
Yesterday's move to new all-time highs was exciting and reminiscent of old times. Yeah, the market was actually moving. On the chart above you can see that the stochastics stayed above the trendline drawn from previous turns going back into September. That was a show of true strength. Nevertheless, today's move was lackadaisical and did not do much to confirm new buying opportunities. Hold on tight was the word for the day. The SJH_DMA (Sunny's Dynamic Moving Average) stayed green, indicating buying opportunities. It has been green since 8/8/2006 at 11076, showing approximately 700 points profit. The SJH_DMA looked like it was going to turn over late in September and even crossed over its yellow moving average; but, it didn't turn, and continued to show its current strength. Nothing about the chart has yet shown weakness or sell characteristics. Nothing shows impending weakness, but it is wise to keep a sell stop under the market to protect profits. Previous highs at 11655 would be a good place to show support. If the Dow dips below that level, take profits.
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Stock Picks |
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| The stock symbols listed in the RadarScreen above show a recent
crossover of the SJH_DMA indicator, suggesting that a buying opportunity
has just occurred. Of course there are many more stocks in this screen,
but you need TradeStation and
Sunny's Dynamic Moving Average indicator to
view the total list. Let's view a few of the associated charts. For this commentary, you must be a Money Mentor Member. Click here to go to the password protected area. |
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