Tag Archives: QQQ
The Nasdaq 100 fell below its 50-day moving average yesterday as it became evident from the immediate response in social media and financial blogosphere. But they were talking about a highly irrelevant indicator.
The 60-day correlation between SPY and QQQ ETFs has plunged near pre-dotcom crash and below pre-2007 top levels. Caveat lector included.
The 60-day correlation between S&P 500 and Nasdaq-100 has dropped to levels reached along the 2000s uptrend. Although correlation can be dubious measure, current low levels may indicate that there is potential in the market for further gains.
The complete process of discovering price patterns for QQQ using the Price Action Lab search function, testing the results in an out-of-sample and then creating a trading system is presented here. It is shown that Price Action Lab can find patterns that result in … Continue reading
My post yesterday about the frequent use of argumentum ad verecundiam by technical analysts in an attempt to assign credibility to their work is followed today by another that provides a specific recent example of how different analysts saw on a chart that which … Continue reading
I sometimes wonder why and when some technical analysts decided that the diamond top formation is a reversal signal. A diamond is a good thing, it is forever. Well, this was another major TA failure I have warned about in advance. … Continue reading