Here is an update on the $NDX wedge, as you can see, the top trend line in this wedge is slightly unclear. The Violet upper trendline has more touchpoints and is therefore probably more reliable, but suggests still more upside is possible. The Blue upper trendline suggests we are at the top, and the overbought indications on RSI, also suggest this...Time will tell..
3 comments:
I have been drawing all kinds of accending wedges on everything and diff. time frames.
they arnt perfect but I lend that to all the manipulating going on
Im still very short here as this is very overbought in my opinion
Hi Lag,
I agree with you, I think this market is overbought, and we should be in the end game for the rally. I thought the posting on Boris's site about the Teamsters pension plan in trouble says more about what's going on then today's market action...
Regards,
Mark l.
Im 58 and retired early because of what I saw coming.
Told people at work then that our retirements may get in trouble.
Still dont trust most other places to park $$$ either
This will now in my opinion head down bigger. I thought it would do a nice pullback then to 1420 or so.
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