Hi ot, upon viewing the NDX chart you posted earlier (and I reposted here for convenience), it is quite telling... "W" like pattern with double bottom at 1650 and a lot of traffic between here and there with support at every 25pts interval. I also extended the following chart to a 6-mos interval (following 3-mos below) and as we can see there is one heck of a shelf at 1700. A break of this level would be cause for concern, but a break of 1650 would be quite bearish...
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