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.


~ by behindthematrix on July 8, 2009.

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