The long standing symmetric triangle on the $NDX and other indexes appears to be breaking out to the downside on volume. Notice the QQQQ chart showing the volume breakout (breakdown) and the failure at the exponential trendline...
Notice the Bollinger Bands on the QQQQ chart are "tight", this gives a fairly high probability of an extended move down. It could be good to be short here, in other words...
As speculated on in an earlier post, the 2/29/08-3/03/08 turn date has inverted, and rather than a cycle bottom, has become a major top...
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