Market View - Well looks like Pokersam and I are right on the current direction of this market, and of course Pokersam called the top. The MACD(12,26,9) is showing a bearish crossover. We go down from here to under the NDX Daily RSI(5) 30 (That could be today or next week). If I was short I would take profits when RSI(5) dips below 30. I will be watching the MACD for a trend change to the upside. We will start a bull run before the MACD bullish crossover occurs. I think we could get a bounce off the 50 SMA at 1689-90.
JMHO
Lindy
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."