Thursday, June 12, 2008

NDX: Missed it by "That" Much

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:

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