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

To: Vendit™ who wrote (6212)	3/10/2005 7:06:53 AM
From: Gersh Avery	Read Replies (1) \| Respond to of 8752

we seem to be right at the support line of this fork: ttrader.com out for the day .. luck to all..

To: Vendit™ who wrote (6212)	3/10/2005 10:53:32 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 8752

Reid, I believe that hammer is a mistake. There was one trade at about 11:30am that printed $36.95, but at the time this was far away from the inside bid/ask, which was about $37.21/37.22. I believe this trade was later nullified, because all my sources show the low of the day to be $37.08. So the actual candle should be a filled hammer, but with a much smaller shadow below the real body. I'd say that candlestick is neutral to mildly bullish. Now, the 20 ema sits currently at $37.56, and QQQQ closed slightly below that at $37.52. 139.142.147.218 So as you say, it is do or die tomorrow, and the chart and technicals and candlesticks inspire moderate optimism at best. But the short-term market internals suggest some upside is next on the agenda. Outside of that, the bulk of the indicators are more consistent with further downside over the next week or more. There are now developments in the futures markets that will be favorable to equities; notably, as expected, unleaded gas continues to correct back to support, with oil right on its heels, less than a day behind. futuresource.com futuresource.com There was also significant encouraging supportive volume in QQQQ early in the session, but this was partially negated later on in the session. 139.142.147.22 Because of this together with the short-term market internals, I'd say we have about a 40/60 chance that QQQQ will close above $37.52 tomorrow. Early in the session I think we'll see some bullishness, but whether QQQQ can hang on into the close as the short-term internals expend their energy remains to be seen. ....all IMHO, of course. T