Monday, May 30, 2016

NDX100 in pursuit of the 4593 Gap?

NDX Daily Chart @ Close 05/27/2016
Ability to hold 'the line' amid a 38% retracement of gains from 3888.78 now sees a Rally unfold seemingly intent on Closing both the immediate Gap left Open April 21 @ 4523 post the Reversal witnessed April 19 with an Outside- Down Day.
Beyond that lies the 4593 GAP left Open once 'batting' began January 4 & the ensuing near collapse amid China/ Commodity/ FANG woes.

Thursday, May 5, 2016

NDX100: US Equity Market Rally 'pause' in effect; how much more to go?

NDX100 Daily Chart @ Close 05/04/2016
Raft of Resistance basis the Benchmark S&P500 @ 2080/ 2116/ 2134 finally 'got their man' with a High @ 2110 & then this reversal of sorts.
Basis the NDX100; 38% of gains from the February Lows now surrendered.
What appeared to be an inevitable Buy Cross on the much followed 50/200day SMAs could well turn 'sour' on matters & 'compress' with this Index failing to muster a Weekly Close back above (4410).
Let's see.