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Mr Nasdaq

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Mr Nasdaq

Re: blasher post# 203

Friday, 10/27/2006 8:05:09 AM

Friday, October 27, 2006 8:05:09 AM

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"hhmmm . . . at the top of long-term resistance ..."

blasher, you are so right...

$43.00 marks the beginning of a substantial area of Gathering Resistance going into Thursday's trade.

The entire area must be captured if the QQQQ wants to continue its rally uninterrupted by a pull back.

On the other hand, in chart work, previous peaks serve as Resistance on the way back up.

Because Thursday's area of Gathering Resistance represents a significant peak, it would be a 'natural' place for a long-overdue pause and pull back to occur.

Buy at Support

Sell at Resistance

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