Sunday, June 01, 2008

$NDX Update for 06.01.2008


Monthly chart shows the bulls managed to gain some ground during the month of May 2008.

Weekly chart shows index above all its key moving averages. Look for next upside target to be the .786 fib level.

Daily chart shows strength as the bulls managed to gap up the open of Friday's trading session, in their haste to get into the market. Despite early profit-taking, the bulls managed to hold onto the day's gains, and managed to keep the gap unfilled. Up trendline in place remains intact, and the 200sma is now acting as support.

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