NASDAQ 100 Index (NDX) Chart – June 26, 2009

I charted the NASDAQ 100 Index ($NDX.X) on Friday, June 26, 2009 when it closed at $1,480.20 for the week. While I’m still not able to get on the bull band wagon for most of the indices, the NASDAQ 100 has more appeal still. NDX pulled back almost 6.5% intraday after hitting a recent high a few weeks ago and has rallied from that level. A nice round 10% correction would’ve made the story better, but the 6.5% did take some risk off the table nonetheless. I didn’t bother to draw some of the old trend lines for NDX that have broken support. Maybe I should have because I think it’s almost a positive to see that it has slowed down its trajectory. That might mean its rally has legs still since it’s following a less steep slope now.

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Cheap Stocks 26 Net/Net Index Update- Up 18.6% since inception (Cheap Stocks, 1/19/12)

The Nasdaq 100 ($NDX) get's No respect. (Erik's market view, 7/26/09)

Even if the market isn't tracing out a triangle, traders are looking at the trading range (UnBiasedTrading (TM), 5/27/09)

Did the Nasdaq run over my idea of an expanded flat? (UnBiasedTrading (TM), 6/4/09)

Read more on NASDAQ 100 Index (IUXX), China MTR Bus CO at Wikinvest

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Comments (2)

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2 Comments

Comment by livret a

I think the MACD is more efficient than Williams %R in this case. What do you think ?
Comment by Alex Fotopoulos

I haven’t used MACD much yet. I try to limit how many technical indicators I use since they can contradict each other sometimes and I end up talking myself out of a trade. It might not be the case on this one, but I’ve seen it happen with others.