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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Walkingshadow who wrote (5135)	2/20/2005 10:31:48 AM
From: Vendit™	Read Replies (3) of 8752

QQQQ Analysis moving into week of February 21, 2005 The QQQQ should open flat to moderately up on Monday. The downside being the lower trend-line or $37.15 as I pointed out on the chart below. themarketwind.com The Stochastic oscillator set in fast mode is very near the reversal zone. Williams’s %R is also near the bottom reversal area with a slight bend in its trend. MACD still shows a longer term bias to the upside. Currently there are no confirmed buy signals in place. Important lower targets are as follows : 1) First lower support: 37.39 2) Trend line support: 37.15 3) Main lower support: 36.93 If 36.93 is breached to the downside then we can expect a continuation of the down trend to the lower Linear Regression Channel line: (see the chart below) 139.142.147.218 The target price would be slightly below $36.00. We will know the trend direction by market close on Tuesday. If the QQQQ bounces off of one of the support levels listed above then expect another repeat of the past two weeks test of resistance at $38.01. One last note: The lower trend line and the upper resistance line are forming an ever tightening trading range. As this range narrows we will eventually see the QQQQ break HARD above or below this range so get ready. Vendit

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