Profunds index and sector trading

[was Steve]

great post. thanks for sharing. i dont see ndx printing 1450 this week before it heads down to new lows. so basically a 50 retrace of latest drop.

for whatever reason, the spx underperformed the ndx on this drop and subsequent rebound. probably becase the ndx has been correcting for an extra month or so while the spx went on to new highs. the spx may approach your 38% retrace but i dont think it gets all the way there before heading down.

as for the 1030, i dont see that happening at all. should we go that far then i would say that my map will be wrong and the highs are in for the next few years and we wont see the higher highs i currently envision for this summer.

as for 1364 ndx that is above my range so i see that taken out, but it may not be by much. my thinking is it reverses back up in the 1330-1350 range in a few weeks.