As of today, NDX closed at 0.774 which is broken above 2003 high 0.77 - second break from LT resistance.
We recently have seen QQQQ outperforming Nasdaq and SPX as Qs is making new highs while Nasdaq and SPX are lagging.
$NDX is historically outperforming Nasdaq or SPX as shown on LT NDX:Nasdaq performance ratio charts.
I alerted NDX outperformance breakout on 8/31/07 which it was bouncing off of breakout support (retest of breakout).
Since then, it is continuing to show strength comparing to other major markets.
Based on LT historical performance ratio, we can anticipate that NDX will outperform other major markets.
NDX has also broken above SPX comparative performance as shown on the weekly 4yr NDX:SPX ratio chart.
OEX is also outperforming SPX as shown on comparative performance chart broken above R.
http://www.stockcharts.com/c-sc/sc?s=$NDX:$COMPQ&p=W&yr=4&mn=0&dy=0&i=p36573008457&a=117657188&r=278.png
http://www.stockcharts.com/c-sc/sc?s=$NDX:$COMPQ&p=W&st=1994-09-25&i=p35909736664&a=78426155&r=104.png
http://www.stockcharts.com/c-sc/sc?s=$NDX:$SPX&p=W&st=1994-09-25&i=p04162674021&a=117659010&r=631.png
http://stockcharts.com/c-sc/sc?s=$NDX:$SPX&p=W&yr=4&mn=7&dy=0&i=p71445212919&a=115689260&r=879.png
http://www.stockcharts.com/c-sc/sc?s=$OEX:$SPX&p=D&yr=2&mn=0&dy=0&i=p93181990465&a=83159011&r=752.png
http://www.stockcharts.com/c-sc/sc?s=$OEX:$SML&p=W&yr=5&mn=0&dy=0&i=p38759166544&a=78028552&r=120.png
Date:8/31/2007 2:28:23 PM
Post #of 2963
Relative Performance: $NDX:$COMPQ
NDX broke above the resistance as shown on the ratio chart.
http://investorshub....age_id=22528406
$NDX comparative performance LT breakout
Started by
Trend-Signals
, Sep 25 2007 09:22 PM
2 replies to this topic
#2
Posted 25 September 2007 - 09:39 PM
Good work - I, for one, appreciate a thoughtful analysis.
#3
Posted 25 September 2007 - 10:08 PM
Good work - I, for one, appreciate a thoughtful analysis.
Thank you, Doug
Good luck with your trades
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