The NDX weekly chart is more obvious in my earlier remarks but first lets see whats going on today as the sell off came as expected with the Full Moon but I do not think we will have a big follow through and test the lows by this leg. Financials are the big losers as Geithners plan was not convincing and at the same time addresses that the problem is much more serious than the administration under Bush admitted but Bernanke and Geithner are the same people who had also under Bush the deepest involvement. Taking the mark up to 2 tril. for the new additional bank bailout proves my point that the losses in the system are much more severe.Back to the tech part as the BKX had to finish the lows and we might see that right away as a dip below the 25 level is a one days job from here and that's all it takes. Tech remains a out-performer to the upside as we expected due to Jupiter in Aquarius which favors technology but not only in a market sense also in real terms we should see this year some breakthrough's in the development of new technologies. The NDX chart is in a flag pattern and should reach the 1300/20 area before turning lower again. Starting Friday we will have a very positive time frame of 2-3 weeks (at least 2) where markets should be rather positive. Dropping below 25 even a one day close and turn next day may be the indicator we should watch closely.
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