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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Walkingshadow who wrote (2319)	11/28/2004 12:35:59 PM
From: Vendit™	Read Replies (1) \| Respond to of 8752

Terry, My study of the QQQ chart shows me the following setup heading into Monday’s open. 1- The lower trend-line is still intact; however the weakening technical status of the QQQ should break the lower trend line early in the coming week. 2- Friday’s candlestick was mildly Bearish and formed on falling volume. It looks indicative of a top forming. Its formation happens to be at current upper resistance. 3- Overall volume on the QQQ has been drastically falling during the past seven trading sessions; this is a Bearish signal. 4- Both lower indicators, stochastic and MACD are showing newly formed sell signals. My presumption is that follow through to the downside on Monday by the session close is highly likely, absent some type of terrific market news stimuli. See the attached chart link. themarketwind.com Reid