Today the Modified Donchian system confirmed a buy signal in the Qs, and while the Weekly-Daily system signaled an exit from the existing short position, today's volume did not confirm a buy signal. The Cabot's Tides also signaled an exit from the existing short position.
Above is a weekly chart of the Qs with the 1.0 SD and 2.0 SD 20 period Bollinger Bands. This rally has the feel and look of the December rally in the Qs. Notice the top that occured at the 1.0 band in early December. If this rally continues to meander up toward a high around the 15th on diminishing range and volume, look for a top around the 1.0 band followed by a sharp decline which may be followed by another sharp rally similar to the one in December.
While the weekly macd is turning up, we are possibly several weeks away from confirming a new bull market as opposed to a continuation of the current bear market.
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