NDX tech update

The corrective wave 4 down is on its way and what we can not see on this NDX chart but have developed for the SPX and DOW are Head and Shoulder patterns which had their necklines broken today. The Lunar eclipse made the green shoots die for a while as we enter the earnings season.
The downside target for the NDX is 1340/50 which is 38% down but even a less likely 1300 is possible. Time frame for this downside move is 2 weeks til the Solar eclipse. We should then enter final wave 5 up to 1580-1600 til end of Aug.

Advertisements

~ by behindthematrix on July 8, 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 )

Twitter picture

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

Facebook photo

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

Google+ photo

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

Connecting to %s

 
%d bloggers like this: