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

To: rab120 who wrote (429)	5/25/2005 4:55:29 PM
From: Gush	Read Replies (1) \| Respond to of 4814

Using these charts/timeframes, I don't see the Q's as overbought: 139.142.147.218 This should continue to go down from here until the 5,3,3 turns bullish, and that hasn't happened yet. We also have a reversal hammer candle today which normally indictes the current trend will reverse.. Meaning the upward short term trend has ended. GUSH GUSH

To: rab120 who wrote (429)	5/26/2005 3:12:52 AM
From: Walkingshadow	Read Replies (2) \| Respond to of 4814

I think the settings on your momentum indicators are misleading.... the stochastic especially. Take a look at these, I think you will see that they make much more sense: 139.142.147.218 The momentum indicators are all consistent with the chart; everything shows very early but definite sell signals from extreme overbought territory. I think the stochastic will cycle down no lower than 40, and then will reverse. There is a trend line across the tops of the stochastic peaks, beginning in December and sloping down. That line was broken to the upside recently, and will be support as the stochastics cycle back down. So 40 - 50 will define the new oversold zone for QQQQ, and will be a very likely reversal point. T