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

To: Vendit™ who wrote (3970)	1/19/2005 11:07:52 PM
From: Walkingshadow	Respond to of 8752

Hi Reid, Yes, I did notice those things, very good work as usual. The "up/down/up/down" you mention is significant. One thing this tells me that the momentum is shifting perceptibly, this is kind of the "random noise" that is associated with no clear trend either way. But.... that is precisely what precedes the shift in medium term trend that you identified. So I think you are spot on. The only small point I would make is that I think it is not the bottom of that power candlestick per se that will cause the problems. I see it more like a region, where resistance becomes stiffer and stiffer the more that candlestick gets penetrated, until the resistance becomes virtually overwhelming, and QQQQ must then retreat. But in effect, it will not make much difference, because I don't think QQQQ has enough short-term upward momentum left to penetrate any more than halfway into that power candlestick. No doubt that will happen eventually when the long term uptrend is resumed, but I can't see it happening on this try. T