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2 to 1 up day on NAZ. Breakout coming?


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#1 Rogerdodger

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Posted 21 May 2007 - 09:52 PM

50% short tonight, 70% bearish.
Positive day link.
Time for Nasdaq to play catchup?
The ADX on the NAMO acts a lot like UFO's chart:
http://stockcharts.com/c-sc/sc?s=$NAMO&p=D&yr=1&mn=0&dy=0&i=p62728857858&a=21967116&r=3616.png

#2 The End

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Posted 21 May 2007 - 10:14 PM

Sometimes the crowd is correct.
NONE of what I type should be taken as financial advice.

#3 jmicou

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Posted 21 May 2007 - 11:39 PM

Using a Decision Point chart:
Posted Image

#4 redfoliage2

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Posted 22 May 2007 - 06:02 AM

The problem is instead of a brakout it suddenly retreated just beneath that breakout point. If it could not break out yesterday it's unlikely able to do it today.

Edited by redfoliage2, 22 May 2007 - 06:10 AM.