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Author: amilian Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 36682  
Subject: Bollinger Bands and COMPQ Date: 11/21/2001 10:09 PM
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So what's the last 2 days retracement really mean then?

Note yesterday afternoon the 30 min BB midline was broken:

http://stockcharts.com/def/servlet/SC.web?c=$COMPQ,uu[l,a]faolyymy[d20010101,20011223][pd100,2.5][vc60][iUb14]

And today the oversold condition on the 5 minute chart was ignored:

http://stockcharts.com/def/servlet/SC.web?c=$COMPQ,uu[l,a]iaclyymy[d20010101,20011223][pd100,2.5][vc60][iUb14]

Also today, the 1st oversold condition on the 10 min chart was ignored; but NOT the 2nd (at around 11am):

http://stockcharts.com/def/servlet/SC.web?c=$COMPQ,uu[l,a]haclyymy[d20010101,20011223][pd100,2.5][vc60][iUb14]

An intraday 'W' bottom formation was seen and we recovered in the afternoon.

Look back to the 5 min chart again and you'll see - of significance - that at the close the midline was crossed again! Go the Bull!!

And look at the Hourly:

http://stockcharts.com/def/servlet/SC.web?c=$COMPQ,uu[w,a]eaclyymy[pd100,2.5!d200,2.5][vc60][iUb14]

We bounced when near the midline, which may signal a continuation of the bullish trend.

Finally, look at the bigger picture of the Daily:

http://stockcharts.com/def/servlet/SC.web?c=$COMPQ,uu[w,a]daclyymy[d19990101,20011201][pd100,2.5][vc60][iUb14]

At this point in time the charts seem to reflect that today's selling is merely some healthy retracement before a continuation of the rally.

Greg.

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