03/31/2009 Market Recap: N vs N Rule

Not much to say today, check the chart below, hopefully according to “n vs n rule” the market could give us a clear direction tomorrow.

1.0.3 S&P 500 SPDRs (SPY 30 min), STO has just dropped from the overbought area, plus it’s the first time for the FAST MACD (black curve) to give buy signal which is most likely a whipsaw, therefore today could be just a rebound from the yesterday’s oversold condition, the market may drop again tomorrow.

1.1.6 PowerShares QQQ Trust (QQQQ 15 min), ChiOsc is way too low, so QQQQ might rebound tomorrow morning. 1.0.4 S&P 500 SPDRs (SPY 15 min) and 1.3.3 Russell 2000 iShares (IWM 15 min) both have the similar problem with ChiOsc, just they are not very extreme.