Augie, here's what the 60-minute NDX looks like to me:
stockcharts.com[h,a]eaclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iub14!la12,26,9!lg!li10,10!lh5,5!lp14,3,3!ll14][J6471083,Y]&pref=G]
I see the 1070-1075 area coming into play. On the daily, it's looking like this:
stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iub14!la12,26,9!lg!li10,10!lh5,5!lp14,3,3!ll14][j6471083,y]&listNum=1
There is a falling wedge on the 15-minute, and the price action is between the lower BB and the 13-EMA on that chart.
stockcharts.com[h,a]gaclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iub14!la12,26,9!lg!li10,10!lh5,5!lp14,3,3!ll14][j6438165,y]&listNum=1
We have to watch how the upper line is handled. If it is breached and price falls back inside, the wedge forms a channel with less bullish implications.
I think the wedge should resolve sometime tomorrow AM, possibly around NDX 1082, the area of gap support on the 15-minute chart. |
