Friday, April 3, 2009

step back and look from a distance

Just trawling charts...sometimes when the shorter term action is unclear it´s best to step back and look at longer term, ie weekly and monthly charts.. a bit like looking at a painting too closely, step back and it becomes clearer

NDX which has been strong in recent rally...

broken above horizontal resistance at 1234 and now testing next level at 1305..

weekly chart shows 3 waves down, (not an Elliott wave expert) but this shows we could be in wave 4 rally (at least in NDX) which should give choppy trading for a short term stuff...

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