The NDX put in another gain today and broke up and held above 1975. It found resistance at the 30MA on the daily so I'd like to watch this for a few more days to see if it can hold this level. It's formed a lower low, and if it doesn't keep heading straight up and over 2060 it will put in a lower high giving us a low risk entry for a downside move.
The upward trend IS broken so it's anyone's game right now. So far the lower low gives it to the bears.
No bias, still need to see price action over the next few days. Notice too that the trading action is happening above the downward trend, but below the upward trend -- limbo land.
NDX Daily Chart:
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