NDX – market update

The NDX confirms today by closimg the gap made 2 days ago the reversal of the SPX ( assuming markets will close negative). We have still minor upside margin left for the SOX but we have on the other hand a second wave up in the pipeline which should produce required finale tops ( wave C). The NDX tested the 200 day MA and the trendline resistance with a gap up but could not maintain the level or gap. The timeline of the correction is later than I initially thought but as we enter week 9 for the leading NDX or the VIX next week and hence still spin a sideways pattern for a few more days running into the Full Moon in Scorpio in square to Jupiter ( which creates the illusion everything is well). Sell in May will only be temporarily be true then as we will rise into late July/ August after the correction.


~ by behindthematrix on May 1, 2009.

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