Friday, March 14, 2008

$NDX Update for 03.14.2008


Monthly chart shows no buy signal/pattern evident. Look for continued weakness and eventual downside target is the .786 fib retracement level.

Weekly chart shows another doji/spinning top, as the market consolidates before the next move (down).

Daily chart shows that Friday's trading activity resulted in a large bearish engulfing candle, showing the change in investor sentiment from up to down. Friday's trading activity took back all the gains made the day before. Look for continued weakness and lower still.

No comments: