NDX Bottoming?

The Nasdaq 100 has shown some weakness of late while the Dow has continued to grind higher. The short term chart seems to suggest a bottom as the market has put in a higher low. However, we can also see that a broadening range patten has also developed, which can be a topping pattern.

0 members like this

▶ Reply to This

Replies to This Discussion

Permalink Reply by Steven Vincent on January 13, 2010 at 1:35pm

All of yesterday's losses have been reversed. It's now just 19 points off its highs. It's notable that this is coming without any news catalyst. Intel's earnings on Thursday after the bell will likely be a catalyst either for an upside continuation or a top.