NDX: Trend Break / Under 30 MA

The NDX showed some more weakness today and closed under the upward trendline for the first time since the line was formed Apr 15th. This shows that it's cooling off and even if it doesn't completely crack down it may spend some time consolidating at these levels for awhile.

1950 was a good support level yesterday and that will be a key area to watch over the next few days. If it can hold then it will still look good for the bulls, a crack below and it could fall for awhile -- it has a pretty clear shot down to 1860.

NDX Daily Chart: