Monday's NDX Roller Coaster

What an exciting ride on the NDX today and why I love trendline breaks. We were nearing a trend break to the upside today, and after some fighting the NDX found some footing and ran up along our green trendline. In the afternoon, there was a knee jerk reaction to some Apple news (Steve Jobs presentaton at a web developers conference) that sent Apple shares down $4.30. Nasdaq took a ride down with Apple. The NDX is now sitting below the 200MA on the 15m Chart and it will be interesting to see what the next few days hold for us. A topping tail candle was formed on the daily chart. The next support level on the NDX should be in the 1895 area. Our target above is still 1920 if we can clear through Monday's action. Highlighted is the afternoon's trendbreak to the downside.

NDX 15m Chart