NYSE @ 200Day Moving Average, NDX @ new low...

NDX100 Daily Close @ 05/15/2012

All gets a bit 'binomial' here; as the lows have been breached for both the NDX100 & German DAX (previous post).
The 38% retrace is 'alive & well'; still supporting the 'it's all OK' thesis. Time spent correcting off the recent highs now commensurate with the long rally without a correction. A small negative loss in the McClellan Oscillator also signals a 'major move' within 4 days....which way is the big Q?
The NYSE Composite is now back to its 200day Simple Moving Average, is that good enough to 'catalyze' a bounce???

NDX100 (& DAX) Lows still in place.......

NDX100 Daily Close @ 05/14/2012

For all the drama in Greece & JPM machinations, the lows in the NDX100 are still in place (barely), so too the German DAX, whilst the S&P500 & NYSE plumb new lows.
The 'Non-Confirmation' by the high Beta indices in the NDX & DAX is a warning for the bears not to get too carried away @ this moment in time.
Below the lows and they can then probably 'party'.
The NDX100 also resides above its 38% retrace, placing it still in 'bullish' mode............

NDX100: Short-term low?

NDX100 Daily Close @ 05/08/2012

The 'larger correction' has indeed unfolded, the Weekly Close below the 50day SMA doing the 'trick'.
An equality move from the secondary high @ 2756.81 has been scored @ 2587 (2590), the candle-stick daily chart highly suggestive that the NDX is susceptible to a counter-rally back towards the highs.
Bears be aware!

NDX100: Still under the influence........

NDX100 Daily Chart Close @ 05/03/2012

The Indecisive Candle Tuesday still exerts its influence as the NDX100 closes back @ the 50day SMA. Perhaps a Weekly Close below such will 'work a charm' and see a larger correction unfold?

NDX100 Short-Term high ?

NDX Daily Close @ 05/01/2012

Immediately off the back of the 'Bullish Engulfing' Weekly Chart...this?!
Bifurcated markets as the DOW advances 1/2% , the BKX & Transports UP 1%+, yet the Small Caps & Russell2000 'Flat'.
The McClellan is signalling a 'Major Move' for the NDX/IXIC in the next 4 trading days, with a -4 reading....portending THAT move to be lower???