Tag: NDX

Another Day, Another Inflection Point

[vc_row][vc_column][vc_column_text]I was saying yesterday that I was expecting the decision in yesterday's inflection point to be made fairly quickly and so it was. The smaller NDX H&S pattern I showed broke down at the open this morning and has now made target. NDX 5min chart:[/vc_column_text][vc_single_image image="119393" img_size="large" alignment="center" onclick="img_link_large"][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]That has completed the larger H&S pattern...

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Tag: NDX

Nasdaq Setting Direction Here

[vc_row][vc_column][vc_column_text]I haven't written a post since 1st September as I've been immersed in divorce paperwork again. That should all be finished within a few days, and that should be the last serious work that needs to be done in my quest to be single again, which will be a relief. This should therefore be the...

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Tag: NDX

Rising Wedges And Mean Reversions

[vc_row][vc_column][vc_column_text]I was looking at the tests of the main resistance trendlines on SPX and ES on Monday, and at the possibility that SPX might turn down there. Instead it broke through, dragged upward by tech stocks, and the very nice daily RSI 5 divergence on both SPX and NDX was lost. On both SPX and...

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Tag: NDX

A Moment Of Truth

[vc_row][vc_column][vc_column_text]I've been looking at the resistance trendlines on ES and SPX over my last few posts, and the scenario I was looking at in my post on Friday 6th August that we may be seeing the start of a retracement here that could deliver a 3800 area retest. I was saying that we might well...

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Tag: NDX

Testing SPX Rising Wedge Resistance Again

[vc_row][vc_column][vc_column_text]I was saying in my post last Thursday that if support was found at the levels being tested then, the next target within the rising wedge would be wedge resistance in the 4500 area, and well, here we are. Now we are back at the daily upper band, and testing a wedge resistance trendline that...

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Tag: NDX

Testing Key Support Levels

[vc_row][vc_column][vc_column_text]SPX went to the resistance trendline that I was looking at in my last post and we have seen a 2%+ retracement from there so far. On the daily chart the RSI 5 has reached the 30 level and the close yesterday delivered a clear break below the first big support level at the daily...

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Tag: NDX

Possible Topping Action Here

[vc_row][vc_column][vc_column_text]I was looking at the resistance trendlines on SPX and NDX last week and while I was off on Friday SPX tested the resistance trendline there. Of those four signals, only ES hasn't yet made the possible near miss target, though it isn't far away, and may well reach that this morning without declining much...

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Tag: NDX

Still Testing Strong Resistance

[vc_row][vc_column][vc_column_text]SPX has made new all time highs as expected and has gone to the resistance level I was talking about in my post a week ago. In the meantime though that trendline has risen and looks to be in the 4465-70 area now. There is no need to test that trendline, but it is strong...

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Tag: NDX

What If … We See SPX Retest 3800

[vc_row][vc_column][vc_column_text]Everything is in the groove from my post yesterday. NDX and ESTX50 made new all time highs yesterday. SPX and Dow made new all time highs today, RUT retested the August high today, making the second high of a possible double top. Only DAX looks slightly short of a new all time high but that...

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Tag: NDX

Retesting Strong Resistance Here

[vc_row][vc_column][vc_column_text]SPX and NDX held the strong resistance they were testing a week ago, retraced a bit, and are now close to testing them again. I have been expecting new all time highs on both, and NDX has made a new all time high today, but SPX is still a bit short and likely needs to...

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