123 Trends and Reversals Message Board

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Strategies & Market Trends : 123 Trends and Reversals

QQQ 629.07

+0.5%

Oct 31 5:00 PM EST

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To: Ally who started this subject	1/31/2001 3:31:53 PM
From: Ally	Read Replies (1) of 147

Re:QQQ Now that the Fed move is behind us, QQQ is presently retracing. The neckline of the reverse head and shoulder is around $60. So, if we view that QQQ is on an uptrend and is simply retracing, we would not expect it to break down below $60, and to go beyond $69 when it resumes the trend. Somewhere between $60 and $69 would be a good position to go long. As mentioned before, I would expect Mr. Greenie to cut rate again within next few weeks. His statement today shows that he views tackling the economy (and not inflation) as top priority.

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