ajtj99's Market Pulse

[ajtj99]

If you look at the EEM weekly, you could make a case that a bullish flag just broke up.

I pulled up some weekly 2X fund charts this weekend, including inverse ones. It gives an interesting perspective.

USPIX, 2X the inverse of the NDX, looks like it's going to new lows. That would indicate a test of the highs for the NDX (there is some decay in the USPIX due to the use of options, so you won't always get 2X results).

UUPIX, 2X the Emerging Markets index (EEM) is a clear bull flag that has broken up.

If you look at the in-play daily "mirror" patterns on the NDX, you could make a case for a pretty quick run to 2148 NDX by June.

I'm trying to keep an open mind here, and with the big up day on Thursday many of charts have taken on real bullish looks.