Tuesday, July 7, 2009

NDX at critical support



Above is 20-year chart of $NDX, with monthly bars. As you can see, I draw a trend line from high in March 2000 to the low of August 2007. The inset picture is a zoomed view.

The index is right on critical support now at around 1400. I do not expect this to fail on the first try so I am long NQ and ES near this level.
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