Ian Woodward's Investing BlogAnd the beat goes on!
….And the beat goes on! The Bullish Action is very strong. On the other hand, the Bullish Sentiment is not yet out of control, which will come when the price continues up on weak volume. The bullish action is so strong that it is overshadowing the potential distribution days. In other words, the herd is still buying on the dips. The bullish reversal on Friday coupled with Options Expiration this coming week suggests the week should be mildly bullish. This could set the QID ETF up for another chance at a sequence run this coming week. Remember that at this point the QID %B is still positive and must turn negative again to trigger the start of the run. We shall see.
I have turned my attention to the QID and to a lesser extent the QLD, the two power ETF’s that give you double your pleasure and double your fun as you chew Doublemint gum….I couldn’t resist that. I hope you enjoy this piece of research which is in its infancy but looks promising. I struck on the idea of finding the earliest potential turn in the Market using the QID, and I am sure you will be surprised and amazed at the extent of the daily money flow into this Index which bets twice the odds of the NASDAQ going down. It is drawing over 10 Million shares a day with regularity and has become a daytrader’s dream. But so far it has proven slim pickings!
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