Wednesday, December 5, 2012

NDX Update

For those fractal enthusiasts - food for thought. 
Here is a post-close update of the 2007 SPX/NDX comparative. Considering Apple's back was broken today, probability favors that the 50% retracement level will be as good as it gets - with respect to the rally from the November 16th intraday low. 
With that said, I will keep an eye on the original form of the comparative, simply because the geometries work so well. But please keep in mind what inevitability will be a rather large silo of propellant to work from on the downside - see Here