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

To: J.K. who wrote (1004)	6/24/2005 1:41:30 AM
From: Walkingshadow	Respond to of 4814

Hi JK, I haven't reviewed the support levels below for a while, but just shooting from the hip here mid-$36 seems good. As I recall, I came up with $36.50 partly on the basis of moving average support, which has certainly changed now. So those support levels will require a bit of revisiting and fine tuning. Personally, I think of support as a kind of region more than a discrete and precise level. There are exceptions..... but most often I do not think support and resistance can be specified to the penny or even to the nickel. T

To: J.K. who wrote (1004)	6/24/2005 11:36:11 AM
From: Walkingshadow	Respond to of 4814

Hi JK, The support levels I see from top to bottom are: $37.22: lower BB rail $37.14: 200 sma $37.00: chart support; psychological support $36.86: 100 sma $36.72: 50 sma $36.60: chart support (not strong) $36.00: chart support $36.00 (or a bit lower): midline of medium-term regression channel $35.60: support from trendline dating back to Aug. 2004 $35.00 (approximately): lower rail of the long-term regression channel stockcharts.com[w,a]daclyyay[dc][pb50!b200][vc60][iUg!Lk14]&pref=G 139.142.147.218 139.142.147.218 stockcharts.com[w,a]daclyyay[dd][pb100!a36.60][vc60][iLyb20,2.0!Lk14]&pref=G As you can see, there is solid support from two sources at $36.00. We'll have to see if yesterday's significant volume surge is repeated, but if not, then that makes $36.00 as the likely lower support that will hold. T