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

To: Vendit™ who wrote (4528)	2/1/2005 6:57:46 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 8752

Yes, I see.... it appears things are shaping up the way I figured. Afterhours GOOG and THQI are flying after blowout reports. Lots of good earnings news out there right now (GOOG especially will get a lot of attention), so that should help the index move into that gap nicely. Might even venture above the $38 line, but the further into that zone it gets, the stiffer the resistance it will encounter, and I would expect resistive volume spikes to appear on the intraday chart. I think we'll probably see a gap up tomorrow, then sidways wait-and-see until the afternoon and the FOMC. Just before the FOMC we'll see an anticipatory break in one direction or another. So I think you are right in your analysis. Outside possibility is that we could see some encroachment into that resistance zone above $38, but if so, I don't think it will last long at all, and will provide a great short entry. T