Nasdaq 100 Index
As per the request for analysis on VXX from @lkeno in the trading room, my charts on both $VIX (spot VIX, CBOE Volatility Index) and VXX (iPath S&P 500 VIX Short-Term Futures ETN) are below. As the underperformance/tracking error of the volatility/VIX tracking ETNs are among the worst of just about any exchange traded products [...]
I had recently shared a previous version of this daily chart of QQQ highlighting the very rare extreme overbought conditions (80+ on the RSI) that have only occurred on a handful of occasions in more than a decade. Those 80+ reading were either stand-alone reading or what I refer to as "double-tap" readings; 2 consecutive [...]
Member @stock51 requested the weekly charts of SPY & QQQ after I had posted the following charts of IWM in the trading room. The following are the daily (spanning 2-years) and weekly (10-years) charts of all three along with a 21-year chart of the Russell 2000 Small-cap index highlight the most extreme pinch in the [...]
GLD (Gold ETF) went on to break down below the 60-minute bearish rising wedge pattern posted yesterday with UUP (U.S. Dollar ETN) also breaking out above the bullish descending price channel. Hard to say where this pullback would end but I favor the reversal to come anywhere from the top to the bottom of the [...]
There is an old saying that the market abhors a vacuum and all gaps will be filled. -StockCharts.com, Chart School Wednesday's big gap on QQQ has been backfilled, leaving no unfinished business behind, should the market start to move lower. If the Q's were to reverse & start to move lower soon, even if they [...]
A quick look at the FAAMG (FB, APPL, AMZN, MSFT & GOOG) stocks that have led the Nasdaq 100 to its recent highs & where they are trading in relation to Wednesday's technically significant (as resistance) gaps, along with some other key technical levels to watch via the 15-minute charts. With the exception [...]
I was quick to fire off the last few charts highlighting the gap backtests on AAPL & GOOG but, even with those two largest components accounting for over 20% of the performance of QQQ, I was remiss not to have included the chart of QQQ. As this 15-minute chart shows, QQQ is currently backtesting a [...]