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

To: Vendit™ who wrote (6743)	3/19/2005 12:04:54 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 8752

Hi Reid, Very interesting, and informative also. I note that you drew the chart on January 5, with QQQQ closing on a 5-month trendline. Very shortly afterwards, that trendline support was broken, and QQQQ hasn't recovered since. I think this illustrates pretty clearly the repercussions from a break in long-term or medium-term support levels. That is: A break in trendline support is a very significant event, and the longer the trendline, the greater the significance and the more far-reaching the consequences. T