Monday, January 09, 2006
Intraday : Pullback on Bollinger Band Expansion
Charts courtesy of Prophet and OptionsXpress
On Monday just after 2:20 pm, we witnessed another textbook expansion in volatility in the QQQQs after the 20 period, 2-SD Bollinger bandwidth had constricted in the daily chart. The QQQQs and other indices pulled back from their session highs but volume did not confirm. So, we are seeing a rally from the lower bollinger band. Where the indices close today and on what final volume will be KEY.
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