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As an update to Tuesday's post
As an update to Tuesday's post, NDX has failed three times recently to
rally off the blue support line. Today, NDX took out the 52-wk low,
by a little - which is a good thing for those looking for a retest,
and a double bottom, and a bad thing for those looking for higher
prices once the NDX low moved above the support line.
Monday/Tues. would be a good place (technically speaking) for
capitulation followed by a bounce, but it'll be complicated
by bad weather on the East Coast, and the cross currents of
triple witching week. We're also heading into the period
when investors sell stocks to cover their tax liabilities.
Should be interesting.
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