Thursday, December 13, 2007

NDX: Can it be Saddled?

The NDX continues to be a bucking bronco and daily chart is becoming tougher to find sensible patterns to trade. To simplify the pattern I've posted a line chart to smooth out the price action.

For the bull arguement the NDX is putting in some higher highs and higher lows, but for the bears it's also showing a head and shoulders type pattern forming that if confirmed with a lower close tomorrow might negate the higher lows. Tomorrow will be an important day to add the next piece to this puzzle.

NDX Daily Line Chart:



NDX Daily Candle Chart:



NDX 1 Year Daily Chart, The Bigger Picture

No comments: