Short Term Trading Member Forum

[denmo83]

Mathias NDX...


Very short term:

Already in the coming week the multi-week correction wave iv should start. The Friday top fulfils all necessary requirements. Still, a clear trend signal is missing, which is generated with the break of 1.592. As long as the NDX has not broken that support an extension of subwave 5’ of v to 1.650 is easily possible.

That doesn’t change the fact that latest mid December wave iv will dominate trading. Realistic are moderate losses to the 1.550 area. The minimum target is 1.589. Both price levels can move up with a higher starting point of wave iv.

For Monday there is a mini target at 1.606 which ideally is reached right at the open. At that point it could become interesting. If there, or higher, the NDX turns up again it would be positive for the ensuing hours as then even another extension within wave 5’ to the upper 1.630 area will follow. Between 1.592 and 1.606 the NDX is in a neutral trading range.