Just a short note to alert readers to the two new Short-Term Trend Model Neutral signals on the NDX and OEX. These signals are triggered when the 5-EMA crosses below the 20-EMA while ABOVE the 50-EMA. If the crossover occurs BELOW the 50-EMA, then you have a STTM SELL signal.
The rising trend on the NDX was broken along with support at the Aug/Oct tops. The next line of support would be at about 7300.
The rising wedge has executed. The tops from Oct/Nov could provide strong support and an opportunity for price to bounce back somewhat. However, PMO and OBV are very negative, which doesn't inspire confidence in this support line.
Technical Analysis is a windsock, not a crystal ball.
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