NQ/ndx has Monthly R1 at 1229(green line) and a open gap there from mid February(white arrow). Also the 76% fib re-tracement is up there. Stochastic too are very overbot as seen in the lower chart. This is a good place to take some profits! We should see a pullback to the 50day moving average(blue line) @1181.
Wednesday, March 18, 2009
NDX coming up too resistance
NQ/ndx has Monthly R1 at 1229(green line) and a open gap there from mid February(white arrow). Also the 76% fib re-tracement is up there. Stochastic too are very overbot as seen in the lower chart. This is a good place to take some profits! We should see a pullback to the 50day moving average(blue line) @1181.
