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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (43324)	5/18/2006 3:38:25 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 67962

LAST UPDATE: 05/17/06 04:54 PM ET How to Trade the 7-Bells The Nasdaq-100 Trust (QQQQ) printed the highest volume in its history today. This is consistent with a major breakdown at 1640, the inception point for the vertical rally that started after New Year’s Day. [Harry: 4 days down in a row. Statistically due for a bounce. There is tough resistance at 40.50 though. Any bounce won't go far. Option expiration will also cap any move. Monday will really tell the tale. A strong rally though 40.50 will get some trades off the side as they will have one level of support to go long on a trade. Till it clear and confirms 40.50 though, it could just a easily continue down after a brief counter-rally to 40.50. Sell in May and go away may be very true this year.]