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 wrote (70)	2/4/2001 8:49:34 PM
From: hypostomus	Read Replies (1) of 147

Ally - Yeah. It already broke the 38% retracement, its Keltner band is staying out in front of it, the 100 and 120 sma's didn't slow it down, the 200sma doesn't look like it will stop it, and volume just started to slow down. I think it's a screamer in spite of the obvious resistance at 45. That's also a pretty scarred landscape in the 38-41 range with those gaps and long bars. If it gets that far, I think it may just go down to the pivot extreme at 35. A lot of stocks with flat ma's have done that recently. It depends to some extent on whether the NYSE index stops at the bottom of its channel or breaks out. Anyway, thanks for sharing your analysis. I usually rely on my overnight scans for opportunities, but this one will be fun to watch. - Mike

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