Friday, April 10, 2009

$NDX Update for 04.10.2009


Monthly chart shows aggressive bulls stepping into the market with the low made in March 2009.

Weekly chart shows the bulls managed to close the index above the 8ema and the down trendline in place.

Daily chart shows that aggressive bulls gapped up the open of Thursday's trading session in their haste to enter the market. The CCI momentum indicator shows that this last move to the high was made with regular divergence. Look for signs of weakness and profit-taking into next week.

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