NDX 9 30 10

Update NDX

$NDX - Daily Candlesticks: "


About a week ago I posted a question about the rally ending. I did not think it was so I did not comment further. It was heavy volume and it did pull back to the 10 day moving average.

On big up trends the rule is buy on every pullback until it stops working.

Now I am starting to see that we could be experiencing distribution. Too early to call but we're looking like we did in mid April b4 the fall. Need a tad more time.

Quotes of the month

It's a recession when your neighbor loses his job; it's a depression when you lose yours - Harry S Truman

I would rather live my life as if there is a God and die to find out there isn't, than live my life as if there isn't and die to find out there is - Albert Camus

Rally done?

$NDX - Daily Candlesticks








Heavy volume and formed a doji on the candlesticks. 2k is major resistance so there may not be enough steam left to break through. Pullback is in order. Will recalculate once this applies. If it closes above 2k with good volume, then still has steam left. Doubt it though.

London Metal Exchange, Belly Up?