Replies to post #68800 on ajtj99's Market Pulse

[ajtj99]

Greg, here's a nice chart that might help us determine whether this is a breakout or a fake-out. The NDX:VXN ratio chart:

http://stockcharts.com/def/servlet/SC.web?c=$BPNDX:$VXN,uu[w,a]dallyyay[d20040109,20060531][pf][vc60...

In August we had a new high at 4.92, but we had an MACD negative divergence. I'd watch the upper line for a tag around 4.95 and another negative divergence on the MACD.

We could go as high as 1775 NDX before turning down, but I still think we reverse prior to expiration. We'll see.