Playing the QQQQ with Terry and friends. Message Board

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Strategies & Market Trends : Playing the QQQQ with Terry and friends.

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To: J.K. who wrote (996)	6/24/2005 12:30:38 AM
From: Walkingshadow	Read Replies (1) of 4814

I think QQQQ will drop no lower than the midline of this regression channel. 139.142.147.218 I have thought for a long time that $36.50 was the first possible reversal point and posted about that several weeks ago, but I think the line in the sand is that midline, currently just above $36.00. IMHO, the reason that midline is so important is that it defines the medium-term correction, which ended at the end of April/beginning of May. So this represents the first pullback from the trend reversal to test support, and a successful test confirms the reversal and rules out a bull trap. We should be able to see the upside reversal develop in the technical indicators on the weekly chart; they are rather orderly and should signal in the following sequence: Williams, OBV, fast stochastic, slow stochastic, MACD. T

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