The NDX closed down today -.07 and almost managed to have a positive day. On the daily chart it formed a fairly long spinning top which is indicative of indecision, but on the bullish side it bounced off the 38.2% fib and formed a bit of a tail. However, I still see a lot of room to move down like a test of the 100MA, (its now under the 30 and 200MA - bearish).
I have no bias until it breaks and closes above the 23.6% or breaks and closes below the 38.2% (1965 and 1908)
NDX Daily Chart:
Thursday, June 12, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment