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[hiker]

NDX has failed so far in the 2 recent attempts (today is attempt #3) to close below the "smoothing moving average" - the 150-day sma.


does it make sense to forecast when even a simple MA and major horizontal support just below continue to hold?

be cautious falling for any hype that a trader knows the future....whether bulls or bears.

simplicity may be best in times like this, and price action relative to horizontal support and resistance may simplify things

Ted Burge keeps it simple and focused on price vs. the most simple measures for perspective -

http://tic-tac-dough.com/

Edited by hiker, 14 March 2007 - 02:04 PM.