NASDAQ 100 INDEX - $NDX
Monthly chart shows continued weakness with the index well below all key moving averages and the down trendline in place. No buy signal/pattern evident on this timeframe.
Weekly chart shows the bears managed to take back some of the gains made by the bulls the week before. No buy signal/pattern evident on this timeframe.
Daily chart shows a sell signal/pattern in play. Look for consolidation/trading range before the next leg lower. IF the bulls can manage to take the index above the October 14, 2008 resistance high, THEN look for a much larger move up. No buy signal/pattern evident on this timeframe as of today.
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