The NDX has reached the 200 day MA and about to test the bigger trend resistance. That will be the final spike as the DOW heads for completion of the count by rising above the trend resistance briefly. The final target of the NDX remains at 1470 but that we will see rather by Aug and now should start to turnaround the next days with almost no upside margin left. The 200 day MA is also the daily Bollinger and will slow down upside attempts. Confirming factor is that we are in week 8 as has the VIX.
Wednesday, April 29, 2009
NDX tech update
The NDX has reached the 200 day MA and about to test the bigger trend resistance. That will be the final spike as the DOW heads for completion of the count by rising above the trend resistance briefly. The final target of the NDX remains at 1470 but that we will see rather by Aug and now should start to turnaround the next days with almost no upside margin left. The 200 day MA is also the daily Bollinger and will slow down upside attempts. Confirming factor is that we are in week 8 as has the VIX.
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