Thursday, October 24, 2013

Follow up....follow through lower'?.............not yet

NDX100 Daily Chart @ Close 10/23/2013
Failure to follow through immediately lower leaves the 'door open' for a retest of the Highs scored Tuesday (across a # of indices).
The strong gains in the Transport Index @ +0.69% belies weakness elsewhere; perhaps a reaction to the gathering weakness in Crude $'s?
The NDX does have form in providing rather random Daily Chart patterns; the mid- July choppy & short- term 'adjustment' symptomatic of such & worthy of note for today's analysis.