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

To: DOUG H who wrote (6596)	3/17/2005 3:26:41 AM
From: Walkingshadow	Read Replies (2) \| Respond to of 8752

QQQQ just touched the 200 sma ($36.53) today. Looks like that support will hold this time around, but I think we'll see that level broken within a week. stockcharts.com[w,a]daclyyay[dc][pd20,2!b200][vc60][iLg!Lyb20,2.0]&pref=G Note that the BBs are still extremely contracted, although just starting to expand. I think QQQQ will lift a bit off that rail, but mostly move sideways, bumping up against the 20 sma (currently $37.40). That resistance will probably hold QQQQ down while it moves sideways. stockcharts.com[w,a]daclyyay[dc][pb20!b200][vc60][iLg!Lyb20,2.0]&pref=G So if you are playing short-term trends, this is probably a good place to cover, as you say. Me, I'm just gonna hang with the short, because I just can't watch the markets close enough. And besides, it is easier to time the medium-term trends than the short-term trends. After the 200 sma falls, QQQQ looks determined to reach the lower regression channel rail within the next month or two. At that point, I'd throw everything you got into long positions, especially if the $SOX shows any signs of life. 139.142.147.218 Most likely, QQQQ will reverse at the lower regression channel rail. But at first, it will just drift higher, seemingly with lukewarm momentum. Then a few months later, the $SOX will reverse, and it will be off to the races. Notice if you draw the regression channel so that it begins at the start of this medium term correction 15 weeks ago, then you extrapolate the rails forward, you can see that by the time QQQQ reaches the bottom of that rail (which it will probably dip below for a week or two), that rail will probably be just above 35: 139.142.147.218 IMHO, that's the reversal area---just below the 15 week regression channel rail, at about $35.00. T