Replies to post #68180 on ajtj99's Market Pulse

[ajtj99]

NDX tagged the falling support line out of the highs today, but the rising support out of the Oct. lows has not been tagged. We could hit it Monday on a re-test or today on a thrust down intra-day.

http://stockcharts.com/def/servlet/SC.web?c=$ndx,uu[e,a]daclyiay[pc9!c13!c20!d20,2!c50!c200!b50!b200...

I think the recovery out of this low will be a re-trace rather than a full-fledged move to take out the highs. 1687 NDX is the level I'm watching for that. If the SPX gives up 1245, it could move swiftly to 1230. I don't anticipate that here with the daily charts pretty oversold.