NASDAQ 100 INDEX - $NDX
Monthly chart remains bearish, with the index well below all key moving averages and the down trendline in place. First downside target at the .786 fib level has been hit. Next downside target is right below at the .886 fib level, and not far below that is the support off the October 2002 low. No buy signal/pattern evident on this timeframe.
Weekly chart remains weak, with the index well below all key moving averages. No buy signal/pattern evident on this timeframe.
Daily chart shows the market found short term support during Friday's trading session. Index remains well below all its key moving averages. We need to see if we get follow through next week or not. No buy signal/pattern evident on this timeframe as of yet.
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