MATRIX Penny Stocks

[livermore4ever]

NDX - Targets: 1687 and 1708 (short term)

Hello,

This is just a short comment on the NDX index...

NDX is trading a short term triangle formation, the main top of the pattern is the 1630, and if crossed to the upside, it should project NDX to 1687 on a fast 1 or 2 days move.

This pattern is working very well with a more meddium term pattern already on action. A long bump and run was triggered in the beggining of November, projecting the NDX to 1708 in a 3 month period.

Look at the chart to understand my technical values:
http://x-peculator.com/nasdaq_futures_board/viewtopic.php?t=14

All this values and projections, are indicative only, and we should take attention to the red ascending support on the chart, as it is the main floor level for any down move against this upside projections.
So my worst case scenario for the short term is to find the NDX on the 1550 level, which would be a great buying opportunity... but i simply dont believe that before we reache the 17 hundred master value.

I own some long positions on NDX futures and QQQQ options, and I«m trading this plan, as well as I've plane the trade Wink

any comments on this ?

Thanks !

Jesse Livermore
http://www.x-peculator.com