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

To: Vendit™ who wrote (7794)	4/14/2005 12:30:49 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 8752

I think it will stabilize here for the time being and probably finish the day close to $36.00. QQQQ has come down too far too fast. A bit of relief and/or consolidation is necessary before we see another significant leg downward IMHO... QQQQ has made its point rather emphatically, maybe too emphatically. T

To: Vendit™ who wrote (7794)	4/14/2005 3:13:40 PM
From: Walkingshadow	Respond to of 8752

Well, 35.66 didn't hold. All the way down to 35.50, on strong volume----133 million shares so far going into the last hour. The previous two days were also strong volume---145 and 109 million shares vs. 100 million average. When you combine these with the candle developing today, we are building a wall of volume---power candles. When QQQQ drops below this zone and stays there, it will have a tough time negotiating that resistance, just as we saw with the heavy resistance regions at 38 and then later just above 37. stockcharts.com[w,a]daclyyay[pd20,2!b50][vc60][iLyb20,2.0]&pref=G This situation raises the very real possibility of a more prolonged sideways move in QQQQ below 36, with repeated tests at 36 being turned back. BB width yesterday was the lowest in over 3 years (0.99). Now it is 1.16 T