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Strategies & Market Trends : Playing the QQQQ with Terry and friends.
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To: rab120 who wrote (3105)11/6/2005 2:20:37 AM
From: Walkingshadow  Read Replies (1) of 4814
 
I can't open that chart.

But I'll say this: there are a number of resistance points coming up in the long-term trend. One of the big ones is the midline of the long-term regression channel:

139.142.147.19

That will be a tough one. Might take a few tries.

I believe The wedge he is referring to began in Aug. 2004, and QQQQ (and NDX) are testing that now. I consider that not relevant to the long term trend, but could indeed influence the medium term trend. That is, if QQQQ is turned away here, that could eventually lead to a medium-term correction. I see NO evidence yet that this is likely. For example, I don't see evidence of bearish divergence.

T
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