Sunday, June 17, 2007

NDX Hits Resistance on the Monthly Charts

I brought up a 10yr Chart on the NDX and drew an upward channel based on the Monthly Chart. I then went to a Weekly Chart to see a little more price detail. As you can see on the Weekly Chart below, we are at the top of this trend channel that hasn't been violated for the last 2 1/2 years. Could this be the week we break through or will we hold and get a little bounce down?
Remember, the longer the trendline, the better it holds -- we'll see!

NDX Weekly Chart

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