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

To: Vendit™ who wrote (7095)	3/28/2005 7:26:52 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 8752

The midline of the linear regression channel is not far from the 20 sma, so maybe that are will be the reversal. But if you draw the regression channel back to the beginning of the correction, I think you will see that QQQQ is struggling here at the midline: 139.142.147.218 I see chart resistance just below $37, and that suggests the reversal might occur at this level, which would probably coincide with the descending 20 sma by the time QQQQ gets up that far. so maybe the reversal zone will be just under $37 for these reasons. That would coincide nicely with your $36.80 level as well. Maybe it will be too much to ask for QQQQ to get as high as the 50 sma on this rally. The 50 sma sits now at $37.31, and is declining by a bit over $.04 per day. That means it will take about 12 sessions for it to get down to $36.80. I think QQQQ will reverse to the downside before then, so probably this will happen at the 20 sma, which at the current rate will be down to $36.80 within about 5 or 6 sessions. T