Short Term Trading Member Forum

[tq]

you could be right airedale. i just find it hard to believe that a 5wk cycle low would come without testing the 10 day ema (10 day ema now at ndx 1409). even back in 4/03, fresh off the 4-4.5 year low, the 10 day ema was tested on the 1st 5wk low. even in bubble mode, that 10 day ema has been been touched on the ndx. i know emas have nothing to with hurst cyclical analysis, but at least a testing of it is traditional on 5wk low.
in any case, i am prepared to go long on a breakout of the recent 5wk high at 1436 and will add to the position accordingly...