The NDX is back in the sideways channel and is currently sitting UNDER the 30MA on the daily chart. Technically looks like it wants to test the lows of this channel in the 2125 range. Keep your eyes on this area, the recent low is 2116. A close below 2116 and the 50MA would create a bearish short term bias.
NDX Daily Chart
Thursday, November 8, 2007
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