From the KISS school of charting, here's a monthly NDX chart that may tell us all we need to know:
stockcharts.com[h,a]maclyyay[de][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]&listNum=1
A monthly close below that rising support and you've possibly got the end of your "C".
If we close below say 1387 or so this month, we'll be below that rising support. If we open around 1430 in Dec, we'll still be above that line, and we'd have to gap up 43 points if we closed Nov at the bottom of that line to make 1430 in Dec.
The Dec. range appears to run from 1430-1485 inside that wedge.
The wedge in January appears to start around 1490 and go to 1530.
NDX 1530 is one level I've been watching as a possible blow-off high. I have an indicator that flagged this as the next high (well, actually COMP 2065, 1530 was interpolated from that).
Anyway, that's a short take here from the monthly NDX. |
