THE DOT - if this turns orange or red be alert

Thursday, August 12, 2010

NDX weekly update

The NDX stayed clearly in its trading chanel and turned around at the resistance level 1910 and started another downwave. The minimum target in the first wave is 1780 which is quite close considering current pre open level. In time frame we have another 5-6 days to drop before we can expect a counterwave. The important question is if we get a full scale leg down which would give a target around 1650 and the technical picture confirms as we still have the death cross at work. The manipulators are not finished yet and will get big support from their DC puppets as Obama will fight a big battle for the mid terms and he will not get away with his empty promises this time. he will try to throw big cash at frustrated middle class which might spur another leg up in Sep if the 5-6 days down left can hold the 1750-80 area. we will have to see as they also prepare for the military strike against Iran which will trigger a bigger war probably WW3. Agenda is to get people into the bullish game so the can unload - make no mistake that go─▒ldman recently takes more a bearish view with bad timing is rather preparation for that scenario as they will be short the day that happens. the call at the low to get short volatility was again a fatal idea for customers to follow.

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