Sunday, April 13, 2008

$NDX Update for 04.13.2008


Monthly chart shows index to be below its 8ema currently. No buy signal/pattern evident on this timeframe.

Weekly chart shows dark cloud cover candle pattern produced by last week's trading activity. Look for continued weakness next week.

Daily chart shows increased selling came back into the market on Friday. The market has completed an abc 3 wave corrective pattern. The last leg up (wave c) has 5 waves within it. Look for continued weakness and follow through to the downside.

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