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

To: Vendit™ who wrote (6961)	3/24/2005 6:58:20 PM
From: Walkingshadow	Read Replies (2) \| Respond to of 8752

Interesting... I notice in that chart that oil often corrects back to the opposite (lower) BB rail, and that currently that BB rail sits at pretty solid chart support. But now we have clear evidence of reversal at minor chart support, also at the middle of the BBs. futuresource.com That suggests that oil has increased upward momentum and has gotten stronger over the past several months. This might be a factor that significantly contributes to driving QQQQ down to form a bottom to end this medium-term correction.... Once again, the time frame seems to be within the next several weeks (my guesstimate is 2 - 4 weeks), and everything seems to be lining up nicely. Once that bottom forms, that will be the time to put everything you can beg, borrow, or steal into this market, particularly if we see a lot of doom and gloom sentiment building, together with a significant increase in volume. Things might not take off right away, particularly if the $SOX continues down, but once the $SOX finds a medium-term bottom, this market will move strongly upwards IMHO. T