Monday, August 1, 2016

NDX100: Momentum Rally continues apace post- BREXIT 'CHAOS'.......

NDX100 Daily Chart @ Close 07/29/2016
Whilst this Rally WILL exhaust itself like every other in market history; the lack of conviction/ belief by many may yet allow for further gains that simply 'shock' those that 'fell for' the IMF/ BoE "Chaos" prognostications immediately post the BREXIT Vote.
NOT until a Clear Sign is witnessed should we 'doubt' this Rally; as the DMI/ ADX Indicator 'trumps' all others including the RSI.
Caveats are existent; the Small Caps 'idling' sideways for 13 days; the Bio- Techs setting the pace BUT below retrace levels that keep it in a Bear Market Rally categorisation for now. Patience.