Left hand the NDX daily and the characteristic has changed as we are about to test the 50 day MA soon. First time for months and at the same time the 50 MA almost is identical with the downside channel resistance. We gaped to the upside on a Monday and the promised mega aid of Obama is the market mover - so they say plus funny evalautions like the companies have more cash than their stocks are worth. Anyway as stated last week for the SPX the C wave up can even reach the SPX 940 but from that level expect a sharp pullback the same is true for the NDX at 1250. We have to follow closely how it turns out as another good news will be the bailout of the car industry probably by tomorrow. Interesting is though the astrological part which drives the market up as Sun and Mars are running parallel through Sagitarius which make people ignore the bad news but the Full Moon on the 12th should turn things around again.
Monday, December 8, 2008
NDX tech ouıtlook
Left hand the NDX daily and the characteristic has changed as we are about to test the 50 day MA soon. First time for months and at the same time the 50 MA almost is identical with the downside channel resistance. We gaped to the upside on a Monday and the promised mega aid of Obama is the market mover - so they say plus funny evalautions like the companies have more cash than their stocks are worth. Anyway as stated last week for the SPX the C wave up can even reach the SPX 940 but from that level expect a sharp pullback the same is true for the NDX at 1250. We have to follow closely how it turns out as another good news will be the bailout of the car industry probably by tomorrow. Interesting is though the astrological part which drives the market up as Sun and Mars are running parallel through Sagitarius which make people ignore the bad news but the Full Moon on the 12th should turn things around again.
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