those pesky charts!

QLD WEEKLY WEEK OF 10 25 2017

above is a weekly close for QLD.

QLD which is 2X Nasdaq 100 appears to have hit a plateau 2 weeks in a row 10/16 and then last few days.

last 4 trading sessions NASDAQ hit 3 distribution days – which is concerning.

On 5/29 week QLD closed 62.65, where as the MA 20 Weeks was 53.67 – 8.98 dollars difference! about 14 %.  Then it dropped by 6.3 dollars (around 10%)

The situtation is not that bad now – the difference between the two (MA and the price ) is about 4 %

Now for the current scenario – the ATR 20 DAYS is 2.43.

So lets wait and see. No clear sell as yet

4 thoughts on “those pesky charts!

  1. You actually make it seem so easy along with your presentation but I in finding this matter to be actually something which I feel I would by no means understand. It seems too complex and very broad for me. I’m having a look ahead on your next submit, I will try to get the dangle of it!

    1. Hey Alex .. thank you for reading the blog post and responding with a meaningful comment ! Appreciate it .. I’ll go through the post and see if I can elaborate .. wasn’t it a wonderful 2017 and 2018 started out well! All the best !!

  2. Thank you, I have just been searching for info about this topic for a while and yours is the best I have discovered so far. But, what in regards to the conclusion? Are you certain in regards to the supply?

    1. helga, you flatter me by saying that mine is the best information you have discovered so far !!
      you are right – you should primarily look at supply and demand and that drives the price
      the price goes up if the demand is more than the supply. It cannot be simpler than that! therefore i just look at that – Price is the true north star
      I am goin to post my next analysis ..Please look into that

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