Wednesday, July 29, 2009
The NDX has reached the target area and with a time lag the SPX will follow but we might start to develope an intermarket divergence as some markets will top out earlier which is a classic for severe troughs and tops. As one of my favorite long was China months ago and has reached the target area fully. We have about 2 weeks left for the NDX but as also the BTK has made the upside move now there is nothing really left to go up for the medium term. The 50% retracement level can be reached though at 1630 with the 200 week MA at 1695 which is not an option. The longs have to put on their pampers since it will be a wild ride starting next week after we had the full moon in Aquarius ( technology) and matches a 13 count in weekly Combo terms.
Posted by getagrip at 9:38 AM