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

To: Vendit™ who wrote (8459)	5/7/2005 7:21:00 PM
From: Walkingshadow	Respond to of 8752

Yes, I agree QQQQ will pull back here, but if you short QQQQ, I think you'd better be pretty quick on your feet. It may not pull back all the way to lower support and could reverse upwards very quickly. I think it it likely that QQQQ will only correct back to the midline of that regression channel; I do NOT think it will correct all the way to the lower rail. Notice also when you change the chart to a 6 month time frame, that the trendlines across the peaks of the stochastics and OBV have been broken to the upside: 139.142.147.218 With a slower stochastic setting, it is not quite there. But I think in a day or two it will be clear this trendline has also been broken: 139.142.147.218 All this is consistent with the medium-term trend reversal, again indicating that the correction is over. T