Notice that on the Microtrendlines chart, the $NDX did manage to strike the trendline (barely), but has formed a small double top...
A time to be alert...If the dollar rally gets real legs, the markets will crumble...
I've been anticipating this for about 3 months, but we still need verification....all eyes on the dollar...
I've added the $SPX Microtrendlines chart and show it's current decline, just starting, has already about hit the supporting trendline. So we are at an interesting juncture, the $NDX has strong resistance overhead, and the $SPX has strong support just beneath. I doubt these two markets will diverge sharply, or for very long, so the next few days may end the gridlock as one index, or the other, has to break through it's current controlling trendline. Since complacency is fairly high, and risk tolerance is waning, I still vote for 'down' as the direction this will go....
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