Over the weekend, I wrote about the application of the mid-line technique to a chart of NDX futures
this is an updated chart
Two very nice bounces off the mid-line.
It reminds me of the old saying that says: Plan the trade, trade the plan
with the way this mid-line has behaved, I would not want to be long if it breaks in the coming hours (days). If it does not break, NDX stands a good chance of challenging north of 1800, and maybe the neighborhood of 1815
S&P 500 – May 15, 2012 - Bottom Line: Long term trend is up. Mid-term trend is down. Short-term trend is down Weekly S&P stage is Late Advance (2-C) Daily S&P stage is Strong Decli...
1 year ago