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

To: Gersh Avery who wrote (6054)	3/6/2005 2:57:02 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 8752

Hi Gersh, I don't really see a flag on the weekly $NDX or QQQQ chart (virtually the same, as you say): 139.142.147.218 But I do see two consecutive bear flags on the daily chart: stockcharts.com[w,a]daclnyay[dc][p][vc60]&pref=G The first flag starts at the January lows. The second is parallel to it and just below, and begins on Feb. 22. I consider these bearish indicators. The weekly chart is indeed interesting; I think the lower regression rail will be reached, and might well be briefly breached. 139.142.147.218 Again, this accords well with the lower support levels where I think QQQQ will reverse: either $35.66, or $35.00. I think QQQQ may well repeat what it did at the end of the last correction at the beginning of August, where it dipped below the lower regression channel rail for a couple of weeks before powering upwards for the next 4 months. Message 21106492 By the time QQQQ trades down to the lower regression channel rail, that rail will probably be somewhere in between the $35.00 and $35.66 support levels, as you can see from the chart above. But this will depend on how long it takes QQQQ to trade down to those levels, since you can see that the regression channel is rising. If I understand you correctly, I think essentially you are saying that fork analysis more or less agrees with that scenario. T

To: Gersh Avery who wrote (6054)	3/6/2005 3:37:00 PM
From: Vendit™	Read Replies (1) \| Respond to of 8752

Gersh, I replicated your fork charts on the QQQQ to get an idea of where they projected the lower level if the first lower fork fails. Your first chart looks like this on the Q’s: themarketwind.com Lower investor sentiment support level just above $35. Your second scenario id the lower fork fails chart id here: themarketwind.com That lower line looks more like $32 on the Q’s. Thank you for posting the charts and for introducing the new methodology to this forum. Reid