NDX Wedge Followup

As it turned out, this was an excellent set up and a precursor to the rest of the days price action downward. We pointed out some wedge set ups on May 30th that broke to the upside and also made some aggressive movement in the direction of the break. On May 30th the price action was "up" and today it was "down." The entry for this trade is marked with the GREEN circle, the exit is marked with the RED circle. The trade was exited once the downtrend was broken. This was a conservative exit, a more aggressive exit and you may still be in the trade! Also on the chart is a second entry point where
the uptrend was again broken. (Click on the chart for a full screen view)