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

To: MJ who wrote (1136)	7/5/2005 10:06:51 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 4814

QQQQ lifted off the lower BB rail and powered nicely through the 50 sma and formed a bullish candle, but was turned back for now from the 200 sma. stockcharts.com[w,a]daclyyay[dc][pb50!b200][vc60][iLg!Lk14]&pref=G This was also a region of chart support: stockcharts.com[w,a]daclyyay[dc][pd20,2!a36.80][vc60][iLg!Lyb20,2.0]&pref=G 139.142.147.218 There are technical buy signals in place now, but overall volume remains below normal. Volume patterns are most consistent with a significant rally here. Today's action occurred despite oil again approaching $60. So much for the supposed inverse relationship between oil and stocks. But FWIW, oil now looks to be weakening, and I expect a pullback to $56 within the next week or so. futuresource.com Index futures are flat at the moment. So far, so good. T