Tuesday, June 4, 2013

NDX yearly pivots and 20 month ma

the past 4+ years, NDX has been finding support on the monthly 20 moving average(yellow line) and has never gone below the yearly pivot point(P) for more than a few days.  This years yearly R2 pivot is at 3186. Support is at the yearly pivot at 2616 or the 20 month ma at 2665, per the chart above.