I was visiting my home town in hinterland of Pakistan, I have just come back to Islamabad and will be posting regularly. I promised composite on old high, we are almost there, 2533 is the next resistance on composite and NDX old high is taken out now at 2168, the old high is 2158, with RUT at 401 approaching 402 and have a close above 402 twice, we will break 1330 on SPM. Lets have two closes above NDX Composite old highs that is two closes above 2535 will be extremely bullish..
Keep looking at NDX if it fails here we may go and test 2050 on NDX so we have a trade here, but if we close up here on a new high just continue your longs, so watch out for today's 2128 if we break this today, we go down.. Reaching a new high is one thing, closing above it twice is another thing, the hedge funds will like to take their profits at new highs and try to test supports after testing the new highs, the longs like me will try to make money on the short side, so watch out for RUT 401 and BKX 855 and NDX 2128, if we break all these supports we may go lower.. So this is the trade today.. |
