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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Walkingshadow who wrote (3599)	1/6/2005 6:22:00 AM
From: Vendit™	Read Replies (1) of 8752

Terry, See my chart of 12/27 predicting the decline of the QQQQ for a comparison. themarketwind.com The chart is of this morning’s view of the QQQQ and why I think we are going to see a reversal today. themarketwind.com Reference the above chart which is through the close yesterday. The QQQQ managed to penetrate first lower support at the 38.90 level but is now sitting on the six month long term trend line. A reversal hammer formed yesterday on declining volume as fast stochastic entered the buy zone. From here the QQQQ will either slide sideways or quickly reverse back to the upside intraday under normal market conditions. Reid

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