NDX tech update

The NDX has a razor sharp performance in wave terms as we ended as expected the bigger wave 3 in 5 waves and have now entered wave bigger 4 down. The very likely target is around 1340 which is a 38 % retracement and should not exceed 1280 less likely.
After listening to the disgraceful comments by the talking heads about the golden cross ( they have no clue what they are talking about) – I share a general observation with you with a very high probability in daily terms approx. 2 months after a golden cross ( 50 crossing 200) a sharp pullback occurs toward the cross level. Happens to be around 1340 matching the retrac. level. After this correction we will see wave 5 up for the final target of this years upside sucker rally which should be 1580 -1600. Should be reached by August and you need to exit all longs then except for special situations which should be no more than 10% of your overall stock exposure.


~ by behindthematrix on June 23, 2009.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: