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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Vendit™ who wrote (7941)	4/19/2005 12:24:31 AM
From: Walkingshadow	Read Replies (1) of 8752

The $SOX is a question now. The longer-term chart shows the $SOX to be sitting right at the middle of the regression channel: 139.142.147.218 The lower rail of this channel is at about $320, which coincides with the lower rail of the long-term regression channel in the $SOX: 139.142.147.218 If the $SOX reverses here, we can expect a strong uptrend in QQQQ. If the midline fails to hold, then QQQQ will not likely trend upwards strongly, since it will not have the participation of the semiconductors. And if the midline fails, we can project a final bottom for the $SOX at roughly $350, since the lower rail is rising slowly, and since $350 region is chart support. It could take the $SOX several months to drop that low. T

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