Thursday, July 09, 2009

NASDAQ 60-min Buy Setup ($QQQQ)

Similar picture across the indices but there is a nice convergence of 'buy' signals which could support a rally for a few days.


[1] A downward channel which should break
[2] A positive divergence in Rate-of-Change
[3] A pending 'buy' trigger in the MACD
[4] A 'rounding bottom' in Stochastics.

The early July breakdown gap is looking like a nice upside target.

Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.

 
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