Friday, August 8, 2008

$NDX and $SPX charts





Note the heavy blue downsloping trendline(s), these are tough resistance and there's some chance the rally could stop at these next week sometime...

Also on the $NDX chart you can see the purple and blue heavy trendlines are near crossing...this sometimes also portends a trend change and could stop the rally....particularily if the price action strikes the heavy blue line at the same time the purple line hits it as well (although the day of their crossing may have this effect without in fact being touched by price) ...in any event, watch $Trin and $CPC values as the blue trendline is hit and slightly penetrated..that should tell us if these lines will be the top...

P.S. the Crossover occurs around the 22nd of August..

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