Monday, March 22, 2010

A blow-off move coming in technology?

The next major resistance for the NDX is the 2007 high.  It has blown through the 61.8% retracement level.  Following the trend line it would take about another three months to reach the old high.  The high might come about the time of the summer solstice.  The secular bear market would continue after that.  The S&P 500 is approaching 61.8% retracement levels, and seems about done.


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