8th day of $QQQ short term down-trend Wednesday, August 14, 2019 @ 9:05 am by Dr. Wish GMI2/6 GMI-24/9 T210837% Note critical support at 150 day average (lowest dotted line). Share this:EmailFacebookTwitterLinkedInPrintMoreSkypePocketPinterestTumblrRedditTelegramWhatsApp Related
1 thought on “8th day of $QQQ short term down-trend”
Good morning, Dr. Wish
I am a retired college professor; a subscriber to TC2000 (thanks to your advice about the availability of free subscriptions for educators); and a friend of Dr. Alan Ellman (who speaks of you quite favorably).
Like Alan, my investing primarily involves the selling of weekly and monthly covered call and cash-secured put options. In recent years, I find myself paying increasing attention to technical factors; I am a faithful reader of your blogs, and I am consistently impressed by your prescience with respect to the direction of the markets, as well as individual securities. I utilize various individual factors related to short-term moves, such as MACD and, especially, your Guppy scan which utilizes multiple short and long-term moving averages. I was wondering if you could recommend any other scans which might be useful for my option-selling purposes.
I have also recently become intrigued by the fact that certain individual stocks seem to behave in rather consistently repetitive patterns during the same relatively brief time intervals (rarely exceeding six weeks) year after year, apparently due to earnings reports, seasonal factors, or other recurring transient occurrences. Accordingly, I was wondering if this might be a characteristic to consider, along with other technical and fundamental predictive stock selection determinants. I would greatly appreciate the benefit of your thoughts in this regard; I would also welcome any suggestions concerning any scans that might be useful in finding such recurrent patterns over a period of years.
Thank you so much for your anticipated courtesies.