Wednesday, June 4, 2008

NDX: Strength

Not sure where it's coming from (doesn't matter), but the NDX continues to move up (180 degrees opposite the DOW and SPX) and the daily chart continues to look bullish.

Yesterday there was an intraday bounce off the 30MA on the daily and today's 24 point gain posted another white bar on the daily chart.

The NDX is still above the 30,100 and 200 Moving average on the daily and continues to hold the uptrend. A close above 2033 would give this rally a new high and some more potential juice to send it higher.

Summary: Looks Bullish despite the DOW and SPX falling apart

NDX Daily Chart:

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