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Technical Analysis RST NASDAQ Futures Questions Answers Update
Monday, April 10, 2006

Nightly Update - NQ Futures and Technical Analysis of Reverse Symmetrical Triangles

NASDAQ 100 Futures update (NQ) - Daily Chart

The NQ futures chart illustrates that NQ is in an ascending triangle pattern. NQ has held the uptrend line for the past year. Resistance is at 1774 for short term traders. NQ is only 38 points away from it's previous high. NQ ended up having a pretty good bounce back off of the lows. The way NQ closed was perfect. However, NQ could retest the uptrend line.

No sectors are being favored short term. However, commodities and futures are being favored over equities. For example, the commodities; Gold and Silver are hot, but the precious metal stocks are not. NEM is not performing as well as Gold. The same applies to the XAU. The rotation will be commodities consolidating while stocks ramp up.

Reverse Symmetrical Triangles- RST

Could you please tell me what RST stands for and means? RST means reverse symmetrical triangle. There are many names for an RST: a broadening top, an expanding triangle, and megaphone top to name a few. There are two types of reverse symmetrical triangles, a continuation triangle and a reversal triangle.

I discovered your web service from a Google search, after reading something from another service. This inspired me to look more deeply into technical analysis.

What this other service was selling was a tutorial on what they called "Gartley and Butterfly Reversal Patterns" . It uses fibonacci along with a definate pattern to signal buys and shorts. Do you know of these techniques?

Answer (on voice update)

Recognia has loaded five years of financial data into its database and our pattern recognition technology has identified over 4 million patterns. Our research and development team has started analyzing these patterns to develop statistics which reflect the actual historical performance of these patterns. We will be posting periodically as we continue our analysis.

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Great idea John for we all learn and value from everyone's different questions.

My Question:
Could you please tell me what RST stands for and means? Sometimes you note on charts that stock is looking RST'ish.

Comment:

btw...CSX update of great benefit in having it all come together-one of those AhHa moments. I hope you keep that update/Pseudorandom in a special place on your site so we can refer back to it. Your help/expertise/insight is ongoing and much appreciated

Answer (on voice update)

RST Site Search


RST Continuation
RST Example
RST Topping pattern
RST Example
NQ Futures at 7:51pm ET
Futures