Thursday, November 13, 2008

Latest $NDX charts...





We've now reached down and penetrated the deepest of the trendlines...it's now or never, either the market rallies, or this set of trendlines are not then able to fully contain this Bear. I personally think a rally is still in the works despite the discouraging price action for the last month...

2 comments:

Shawn said...

Mark, your post last Thursday was great! SPX breached the low to 818 and rallied almost 100 points.

Are you still seeing a low to be made around 11/20? If so, what's your target?

Thanks

mlytle said...

Hi Shawn,
Thanks for the compliment, I am still cautiously thinking a rally around that time frame is possible..Hard to stick my neck out here because the fundamentals in this economy are so horrible...but I think it still could happen. Be sure to be in major risk averse mode. This is a "Armageddon" market.

Regards,
Mark L.