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The NDX has retraced about 50% of its 3/24 to 5/24 decline and encounted resistance as shown on the attached chart.
I plan to go long if there is a two day close above the speed line or a close above the upper limit of the upper retracement zone. In the alternative, after a move down, I plan to take a long position with a close in the lower retracement zone.
I also attached a chart of the OEX which has retraced more of its decline.
Steve
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