NDX – Page 7 – The Art Of Chart

Tag: NDX

Breakout Opportunity Here

[vc_row][vc_column][vc_column_text]The bulls delivered a strong rally yesterday and there is actually a decent looking setup for a break up here that might well then deliver a fast retest of the all time highs on SPX. A daily RSI 5 buy signal fixed on NDX at the end of last week, which I wasn't taking particularly...

Looking For A Backtest

[vc_row][vc_column][vc_column_text]I was looking at resistance at the weekly middle band in my post on Tuesday, and SPX has broken up through that convincingly, though SPX still needs to close the week significantly above the weekly middle band, currently at 4531 to fix that resistance break. If seen SPX will then need to close next week...

Choices Choices

[vc_row][vc_column][vc_column_text]After the violent rally on Thursday and Friday next week the real question here is whether a significant low has been made. There are some signs that might be the case. On the SPX daily chart the low saw a spike down through the 3sd lower band, generally a good indicator for at least a...

Back In the USSR

[vc_row][vc_column][vc_column_text]Putin revealed his thinking in a speech last week where he stated (incorrectly) that Ukraine had always been part of Russia historically, and has now followed through on that with what looks increasingly like a full occupation of Ukraine. If he meant what he said in that speech then Ukraine's time as an independent country...

Finely Balanced

[vc_row][vc_column][vc_column_text]In my last post I was looking at strong daily lower band rides on SPX that have the daily lower band ride as intraday resistance, rather than as support as would be the case on a standard daily lower band ride, and I used a previous instance from September as an example. Interestingly the path...

Teaching Moment – Strong Daily Lower Band Rides

[vc_row][vc_column][vc_column_text]The type of very strong daily lower band ride that I was describing on Friday turned out to be exactly what we saw, so I'm taking a moment to look at that this morning as these happen on a regular basis, two to four times a year or so, and tend to behave in a...

Taking Stock

[vc_row][vc_column][vc_column_text]In my post on Friday 6th August last year I was looking at a possible backtest scenario on SPX that could be setting up and I reviewed how that is looking on my first post this year, as I was thinking, and am still thinking, that backtest may well be delivered over the next few...

So Far So Good

[vc_row][vc_column][vc_column_text]In my last post I was talking about an SPX target in the 4500 area as long as SPX stayed under the daily middle band. Since then we saw a short lived break above the daily middle band but SPX failed to convert that back to support and has delivered a new retracement low today....

A Big Picture Review

[vc_row][vc_column][vc_column_text]In my post on Friday 6th August I was looking at a possible backtest scenario on SPX that could be setting up and I'd like to review how that is looking on my first post this year, as I think that backtest may well be delivered over the next few weeks. That backtest would be...

Choices Choices

[vc_row][vc_column][vc_column_text]SPX did the lower low I was expecting in my last post and found support at the rising support trendline from the March 2020 low, as I had suggested it might. The strong rally since then is now within striking distance of a retest of the all time high, and if seen, the normal range...