Playing the QQQQ with Terry and friends. Message Board

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Strategies & Market Trends : Playing the QQQQ with Terry and friends.

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To: J.K. who wrote (373)	5/24/2005 5:15:56 AM
From: Walkingshadow	of 4814

Hi JK, <<I think we will start seeing some sideways, but choppy action at these levels,>> You could well be correct, especially if the $SOX does the same. I don't think we'll see strong selling, but I do think we'll see some combination of a pullback with choppiness. Re the $38.50 volume resistance, you are correct. But the resistance there comes also from chart resistance, and that begins at just above $38. At the time QQQQ was testing that region, there were other sources of resistance as well from moving averages, trendlines, BBs, etc. But all that has changed now. I think the volume-related resistance begins probably just below $38.50 as you say, and extends up to about $39 or so. Above $39 there are a couple of big volume-heavy candles as well. Naz futures trading down a bit again. T

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