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

To: Walkingshadow who wrote (306)	5/21/2005 7:52:22 AM
From: J.K.	Respond to of 4814

Terry, ...nice post on interpreting stochastics. Your weekly SOX chart may be revealing an ascending triangle with a 500 target (450-350 + 450 = 500). Here are a couple links to help anyone's understanding of the SOX: Explained - (it's price weighted, not market weighted) streetauthority.com Updated weightings: phlx.com

To: Walkingshadow who wrote (306)	5/21/2005 12:23:39 PM
From: IHateSourCream	Read Replies (2) \| Respond to of 4814

Hi Terry, >>So why am I posting about the $SOX? Because the fortunes of QQQQ are inextricably linked to the fortunes of the $SOX. If the $SOX is rallying, then the rally in QQQQ will be strong. This weekly chart now tells me that the $SOX is very likely to blow right past $445. That means there is nowhere to go from there but up to test the next resistance (although there could first be some consolidation above $445). The next resistance is $490<< Are you still expecting a correction in the QQQQ from the upswing it had this past week? If so, at what level do you project the QQQQ would fall to? Are you still projecting that it would fall to the 200sma (currently 36.64)? Or do you feel that this correction will no longer happen since the $SOX is so strong? If you do still believe that a correction is an inevitability -- when do you approximate it would take place? Thanks in advance. And congratulations on the new thread. IHSC