NDX bottom today

Discussion in 'Trading' started by iceman1, May 24, 2006.

  1. just another worthless opinion calling a bottom! :confused:

    bonne chance!

  2. best of luck bro...

    sure looks like it based on VXN, p/c ratio, daily RSI and 60min SOX positive divergence....

    good luck
  3. ditto

    lets rock n' roll higher for a couple days !
  4. mclellan oscillator extreme oversold

    either bottom.. or crash....
  5. let's go bros - it's time to SHOP!
  6. the candlesticks are showing a reversal in the next 5 sessions.....

    :cool: :cool: :cool:

    edit: if we get a doji close today....
  7. its not gonna be a feast to the upside - lots of damage done. May take a while to convince many!
  8. it will be a nice short squeeze on a lot of nasdaq stocks for a couple days
  9. That would be nice, since I have a long-term position in the NDX. I don't trade in and out of this position==it's a core position, because I believe that NDX is undervalued in relation to the S&P. I would not be surprised to see a 15% rally from here over the next few months.

    That said, the close today did not overly impress me. Yes, the market came back from a late morning rout, but I would have liked to have seen a close that approximated Tuesday's high. What we have instead is a key reversal that looks more like a bear hook than a confirmation of a change in trend.

    Like I said, I hope I am wrong. And, like someone said earlier, predictions are not to be taken seriously. If I were day trading later this morning, I'd look for a test of Wed's lows.

    Good luck to all.

  10. I don't think we'll have a change in trend , just a couple day pop and some short covering on the nas, I think the s&p and the dow have more to go but they might rebound for a couple days also, I think we're in for a good ride down after that, the s&p had come back 72% and we broke some pretty good trendlines last week, we should go up to test them but I don't think we go any further on a long term chart
    #10     May 25, 2006