Tuesday, April 8, 2008

Long term "regular" view of $NDX



So my view is, short to intermediate term, we fall, hit another bottom and in a general way make our way towards the end of this big wedge, and out there somewhere, break out of the pinch effect of the wedge and produce a respectable rally, probably bigger than the one just completed. When that will happen is speculation at this point, but the parameters of this wedge gives us some intuition on this, and we can follow it as it develops....

On a side note, notice the "fast volatility" indicator is at an extreme(low), usually a good indicator of tops when Stochastics is also high...

The crossover date of the two downward sloping trendlines is at 9/02/08 at 1556. Read the caveats on the post above...

3 comments:

john said...

Mark,

thanx, I do not always comment but I always read with interest.

old john

mlytle said...

Hi John,
Thanks for dropping in...I hope this is useful to everyone..

Regards,
Mark L.

lagscrew said...

Mark

Very useful--staying short and can still short a little more