ajtj99's Market Pulse

[Justa Werkenstiff]

Market: I said this morning: "NDX is on overbought sell again today (intraday)long with a few other averages. I said there was a chance that extreme becomes more extreme (strong uptrend) before a turn. I think that is playing out and expect more of the same absent a major sell-off this afternoon. A close below NDX 1646 will get me thinking. But the Sox suggests suggests this is not going to happen today."

We got the sell off but not a major one and we closed above 1646 (1647) and that gives me a borderline bizarro buy signal on the NDX...probably a retest of the highs.