NDX continues to remain within the well engineered log scaled channell since 2009.....there are now 4 touches along the lower channel rail. That's the thing with channels like this.....it doesn't go out the bottom. They first go out thru the top rail, when the real parabolic finally starts. NDX did this back in late 1996 and it stayed above the top rail until early 2002.....the real blowoff. NDX currently not even there yet. Same thing on the Bitcoin parabolic chart, up thru the top rail on the way to nearly 20,000. Like cake.....
NDX log channel
Started by
LMF
, Jan 19 2019 01:10 PM
2 replies to this topic
#2
LMF
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Posted 19 January 2019 - 01:35 PM
Net outflows -9.2 billion from equity ETFs for the week ending Jan 16.....Lipper data. Sentiment still looking bearish.....
#3
LMF
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- Traders-Talk User
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Posted 19 January 2019 - 01:55 PM
No 2 percent days on the DJIA, SPX since January 4......the market looks ok up to the 200 day MA minimum. My guess is the early December highs get exceeded by a hair for the bullish cup formation. The entire December thing gets reversed.
