Replies to post #293848 on Zeev's Turnips Patch-No Politics (ZEEV)

[otraque]

NDX chart revisited and it suggests that if NDX gets to 1480 Alexander better sell like hell.
http://stockcharts.com/def/servlet/SC.web?c=$NDX,uu[f,a]dacanyay[de][pc13!c50!c70!c200][vc60][ilb14!....

But yes we are are now on the edge of a decent breakout.
A close above 1406 sets up 1439/40 then pullback and then attempt at 1450 area, where i feel we then collapse---however chart has room to 1480.
But this means we must not collapse here at this breakout point.
i have been watching this over the days and i see this as a masterfully MM contrivance, as they are battling like hell to hold supports and break resistances KNOWING full well traders will follow the TA signals.:)
I add also that the earning season in techs will lead to a blood bath if MMs manage to nurse this suckers uptrend.
NDX sector is marvelously over priced right where it is right now on the whole(except for certain sweet niches), imo.

[Alexander]

marketmaven

Short term I'm not the one to listen to. I work in the tech industry and what I see happening makes me very bullish long term. We are at the initial stages of major trends, in software and telco, that gradually will get more momentum.

The problem is that those trends are threatening the large tech companies...they have a lot to lose if those trends start to accelerate. It's my conviction they will accelerate, it's just hard to say when.

So, in the meantime we have two opposite forces at work:
-pressure on the incumbents' business models
-powerful trends at initial stages

Hence, I'm unsure what happens short term.

Alexander