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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Vendit™ who wrote (5136)	2/21/2005 2:30:10 AM
From: Walkingshadow	Read Replies (1) of 8752

Hi Reid, << 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. >> Interesting, I hadn't thought of that. But this is potentially one way the medium term correction could end. I think there's still too much bullishness around that has to get shaken out first before we move back into rally mode. That would make a breakout to the upside less likely at this time, and there are other things that are still in process also. So possibly then, QQQQ will break to the downside out of that tightening trading range, test support, and find a bottom at one of the lower support levels. T

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