The Naz

Discussion in 'Index Futures' started by santosLhalper, Feb 4, 2009.

  1. 2 charts, daily and hourly. Q's are still in a triangle and got rejected without a fight at the upper trend line (which was also the upper bollinger band). It printed a very sick looking candlestick. Volume is declining in the triangle, but ticked up today with the selloff. This thing is going to give one way or the other pretty soon, and triangles are usually continuation patterns.
  2. The hourly chart looks similarly ill. Failed at the upper trend line (which coincided with the hourly bollinger) on good volume. Bearish MACD cross is about to occur, stoch cross already occurred. We made a double top at exactly 30.65 and have huge negative divergences above the tops on all indicators. I really don't see how this thing goes anywhere but down from here but the market is always pulling surprises...
  3. time for a straddle
  4. Checkout the futures, Naz is down more than 20 points on Cisco news