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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Vendit™ who wrote (3682)	1/10/2005 8:42:04 AM
From: Walkingshadow	of 8752

Crude trading near the highs of the session at about $46. Index futures flat to slightly higher, but they were trading higher overnight. As for the dollar.... looks determined to seek lower ground now: futuresource.com Anyhow, maybe it might take a while to get started, but I still think we'll see the market move higher now, at least to the 20 sma. Look at the weekly chart. I plugged in the 4 week sma, which is about equivalent to the 20 sma on the daily chart. QQQQ hasn't closed below the 4 week sma in months: stockcharts.com[w,a]waclyyay[dd][pb50!b4][vc60][iUb14!La12,26,9]&pref=G This suggests to me that the medium term trend might be down for several weeks, but I still think we'll see the market rally up to the 20 sma..... possibly higher. T

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