Market Analysis for Oct 20th, 2004

The QQQs came within a nickel of our target for the current upmove, but we were not executed "up there." Since then, the Qs have pulled back a bit, but my micro work argues that there is another rally coming later this afternoon that should propel them into the 36.30/.40 area, which we will wait for. As long as the Qs consolidate above 36, my micro work will remain positive. We will remain long, with stops just below our entry price.

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