The NDX has reached a crucial area for this leg the gap area from where the downleg started in Jan and we will end this leg within the gap area by tomorrow before pulling back to the 1150 support. The NDX is the first index to trade above the 50 MA. A strong resistance is at 1250 for the time being. The FED just announced to expand their balance sheet by 1 tril. to over 3 tril which is 300 % more compared to regular times which is crazy but helps to fuel the sucker rally going forward
Wednesday, March 18, 2009
NDX tech update - general market update
The NDX has reached a crucial area for this leg the gap area from where the downleg started in Jan and we will end this leg within the gap area by tomorrow before pulling back to the 1150 support. The NDX is the first index to trade above the 50 MA. A strong resistance is at 1250 for the time being. The FED just announced to expand their balance sheet by 1 tril. to over 3 tril which is 300 % more compared to regular times which is crazy but helps to fuel the sucker rally going forward
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