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

To: Walkingshadow who wrote (5965)	3/5/2005 10:21:46 AM
From: Vendit™	Read Replies (1) \| Respond to of 8752

A look a last week’s QQQQ analysis and the outcome. Last week the QQQQ took 3 days to play out part of the scenario that I projected in last week’s analysis. Last week’s analysis: Message 21085023 Last Sunday I said: Intra-day charts suggest that we may see some mild profit taking at the open on Monday followed by a continuation of the up trend within the first fifteen to thirty minutes after the opening bell. Look at the 5 day chart below and you will see during the Monday time frame that we had a sell off at open followed by a continuation of up-trend the second half of the session and on in to Tuesday and Wednesday. themarketwind.com I also projected the following: The Linear Regression study below agrees with the $38.00 area as being the top of the normal trading range. Any move above the 38.01 - 38.14 area should be considered a break-out. and That two upper targets would get hit 38.14 and 38.45. Look back at the chart linked above and you will see that on Wednesday $38.00 was hit which was near or at the top of the Linear Regression Channel that I referenced last Sunday. As it turned out that channel line repelled the move up so the other two targets, 38.14 and 38.45 were never reached. Based on the above we called Monday’s movement properly and the move up to 38.00 within 2 to 4 days however I missed the first upper target by 14 cents. That proves what I have always said, “No one bats 1000%”. Reid