Slow Crawl
The Qs are again in slow-crawl
mode this morning, as buyers are not yet
willing to commit to lower prices. With volatility indices on the rise and
approaching upper daily Bollinger bands (I use volatility charts the same way I
would the Qs, just in reverse.) and stochastics almost under my monitor, my eyes
certainly turn to reversal potential, stressing "potential" as we
await a change by uptrends on the smaller intervals.
As the column goes to press at midday, NQ is trading just south of 1400 (approx.
$35.65 on the Qs) for the moment on a modest volume surge which may be an
indication of some towel-throwing, yet all eyes remain fixed on a change in tide
in the immediate three-minute trend as an early low-risk trigger.
Wednesday April 3,
2002 12:00 P.M. ET
Good Trading!