Trend Setters and Range Riders Message Board

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Strategies & Market Trends : Trend Setters and Range Riders

MSFT 485.49

+1.8%

Nov 26 3:59 PM EST

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To: Challo Jeregy who wrote (21127)	7/23/2002 7:49:41 PM
From: Susan G	Read Replies (2) of 26752

QQQ from 23.50 to 23.75...it's going to be pretty tough resistance now, because it's the broken double or triple bottom from earlier in July, equal to NDX or NQ around 946-950. It was also the REALLY important support in that trading range - or rectangle that the index traded in from mid June until yesterday. Now it's a broken trading range and the entire area is nothing but huge resistance. Remember those nasdaq charts of the trading range I posted, that we were in from late June on? It was like a rectangle it was such a tight range? Well that was the support line, the spot everyone was calling the bottom, because it was old important support, and that new low and the retest we made earlier in July, and moved up for off of 5 days pre OPEX. So since it was the bottom of that tight trading range, it WAS important support, now it's resistance... it's going to take a gap open and a futures jam job to get over that line now. Here are updated charts of what was a long term trading range...and many were hoping was the start of a basing action. NOT. mywebpages.comcast.net mywebpages.comcast.net Here's the old one...it's of the compx not NDX though. mywebpages.comcast.net

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