When the little red line on the daily COMP ADX hits -15, you can think about shorting, IMO.
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]&pref=G
This 60-minute chart shows things are progressing quite well to the upside:
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][J6471081,Y]&pref=G
That wedge you see could actually be just part of a channel that has support around NDX 1050 or so. The main rising support off the 10-10 lows through the 12-31 lows is also lower, around NDX 1010 or so if memory serves. |
