NDX "levels" from fly on wall

13:49:46
NDX
[theflyonthewall] Nasdaq 100 Index-NDX: Bearish "Island" Triangle in ProgressOn the 5-minute chart there is a bearish "island" triangle in progress. We are calling it an "island" because of the gap down today which leaves the triangle isolated on the chart. The downside potential for the pattern is to the 1215 area which would bring it close to where Friday's session began. It would take a move back above 1247 to break the pattern for today. A move above 1255 would void it completely.


posted by Peter Greene