2007-2-27 2007-2-27 The low for QQQQ today was at a minor support level (which is positive), but strong support does not arrive until the 43 level. This does not mean that the ETF will fall to this level before the uptrend resumes, but this is certainly a possibility. With the 50 day moving average being broken today it is possible that today's low will prove to be the support that pushes QQQQ back above its 50 day within the next few days. As we still see the mid-term trend as up, this is a possibility. You could also look at the action from the last few days as a consolidation (shown on the chart with two small blue lines) before another leg down. This leg would likely end in the 43 area. We feel this is the worst case scenario. The best of course is today's low being the low of the recent pullback.There is little to say new about the chart of SMH. The ETF is currently at strong support in the 33 area. This would also be the neckline of the possible head and shoulder formation 73984 text/html http://www.nasdaqwizard.com/MidPics/mid012207.html 1.0 EN index,follow The low for QQQQ today was at a minor support level (which is positive), but strong support does not arrive until the 43 level. This does not mean that the ETF w text