Snap back rally extended version - the hourly NDX left hand has 2-3 hours upside left and we will briefly go above 1200 Friday. This is a perfect window dressing as many are jumping on board. We just rallied back to monthly Bollingers SPX for the NDX its still far away at 1370 that means a second month the NDX will close outside, which is very bearish still. The Rydex is back up to .97 thats a crash level basically and we will get another selling wave soon. As if Golman is right abou earnings what we will know in Jan with 55$ market trades at 17 PE which is far too rich for the SPX. Lets see how far the pullback next week takes us. Good vibes are on the next days as Venus and Jupiter are at the same spot for a few days which will bring a lucky TG weekend. Have a happy Thanksgiiving.
Wednesday, November 26, 2008
NDX tech update - Happy Thanksgiving
Snap back rally extended version - the hourly NDX left hand has 2-3 hours upside left and we will briefly go above 1200 Friday. This is a perfect window dressing as many are jumping on board. We just rallied back to monthly Bollingers SPX for the NDX its still far away at 1370 that means a second month the NDX will close outside, which is very bearish still. The Rydex is back up to .97 thats a crash level basically and we will get another selling wave soon. As if Golman is right abou earnings what we will know in Jan with 55$ market trades at 17 PE which is far too rich for the SPX. Lets see how far the pullback next week takes us. Good vibes are on the next days as Venus and Jupiter are at the same spot for a few days which will bring a lucky TG weekend. Have a happy Thanksgiiving.
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