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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 (3014)	11/1/2005 5:21:36 PM
From: Walkingshadow	Respond to of 4814

Hi JK, INDU got turned back from the 50sma now, which also coincides with the upper BB rail. I think a test of short-term chart support at about 10,285 is in order here: stockcharts.com[w,a]dacayyay[dc][pd20,2!a10285][vc60][iLp5,3,3!Lp15,5,5]&pref=G That would be just below the middle of the BBs, and INDU could very well reverse at that relative support level. If not, then we'll see the lower BB rail tested and possibly points further south, but I think that is very unlikely. I expect we'll see reversal at the chart support outlined, or the middle of the BBs, that seems most likely to me. T

To: J.K. who wrote (3014)	11/1/2005 5:30:54 PM
From: Walkingshadow	Respond to of 4814

The $SOX has accumulated a ton of overhead resistance now from the 200 sma, 100 sma, and 50 sma among other sources. That said, it is trying.... it really wants to rally off that lower BB rail: stockcharts.com[w,a]dacayyay[dc][pd20,2!c200][vc60][iLp5,3,3!Lp15,5,5]&pref=G Friday's and Monday's candle looks pretty encouraging to me. But technicals are equivocal now, and relative strength has gone south for the winter: 139.142.147.19 Maybe we'll see the SOX lounge around that lower rail a bit until the BBs tighten up, then gather itself up for a charge northward. If QQQQ is gonna go anywhere (and I expect it will shortly), it's gonna need the SOX at its back. T

To: J.K. who wrote (3014)	11/1/2005 5:50:15 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 4814

QQQQ looks a bit better, but I think a retest of $38 is coming up here: 139.142.147.19 And the 200 sma sits just below $38, burrently at $37.95: stockcharts.com[w,a]dacayyay[dc][pd20,2!c200][vc60][iLk14!Ll14]&pref=G But as I said before, I don't see a lot of downside left in QQQQ at this point. It's gotta break out of this downsloping regression channel: 139.142.147.19 You can see the upsloping trendline over the last week or so, and how that relates to the bottom rail of this dominant channel: 139.142.147.19 That longer-term regression channel is winning out, as expected. We might possibly get one more test of the lower rail, but I don't think there's much question which way the break will be. T