Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Playing the QQQQ with Terry and friends. -- Ignore unavailable to you. Want to Upgrade?

To: Gush who wrote (95)	5/16/2005 10:45:06 AM
From: Walkingshadow	Respond to of 4814

Looks to me like support is just under $36 ($35.95 and $35.90)....must be a lotta buy limit orders sitting down there. 139.142.147.22 Also the 40 ema is pretty good intraday support. Below that, $35.70 but I think if QQQQ trades down the chances are extremely high that the sub-$36 support will hold. There was a wall of buyers down there twice on Friday. The chances of QQQQ trading down below $35.90 are very remote. I don't see it happening. Resistance is $36.40 intraday, as you can see on the above chart, but there is resistance right here at $36.15 from the upper rail of the regression channel (medium-term): 139.142.147.218 Also, just above intraday resistance at $36.40 is the upper BB rail at $36.43: stockcharts.com[w,a]daclyyay[db][pb50!d20,2!f][vc60][iLyb20,2.0]&pref=G then the 200 sma at $36.57: stockcharts.com[w,a]daclyyay[db][pb50!b200!f][vc60][iLyb20,2.0]&pref=G After that, chart resistance at $37. That one will be tough, but I think we'll test it this week. Might get turned back the first time we test, but that resistance is going.... the question is not if, it is when. T

To: Gush who wrote (95)	5/16/2005 1:58:05 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 4814

QQQQ is testing $36.40 resistance and 40 ema support repeatedly: 139.142.147.22 Volume rather uninspiring so far, but this back-and-forth between support and overhead is coming to a head soon, this can't last. All the intraday moving averages have converged on price, and everything is starting to go sideways. 139.142.147.22 This is a classic setup for a post-lunch period break. So I think we'll see a break after 2pm one way or the other. I hope it's down to pick up more volume support. A quick glance at volume patterns gives that impression, but I haven't looked in any detail. T