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Strategies & Market Trends : Technical Analysis With Charts

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From: MACD X	3/21/2007 1:51:31 PM
	Read Replies (1) of 6865

Probably about time to short the QQQQs stockcharts.com this is the area that usually tops the first up move, its at the 50% retracement line and RSI is at resistance of the 50 line which usually signal a trend change when it is violated. It also has superior support and resistance qualitys. The down trend channel lines are at the very same angle of the last decline, this is common to see the same angle over and over. The first move in the last down fall of last year also didnt touch either channel line as price appears to be doing on this rally that is in progress. This is a good place to enter short because a move very much above the RSI 50 line or above 62% retracement would be reasons to exit. The next best shorting place may well be the upper channel line on the chart.

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