Slope of Hope Blog Posts

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TGI Friday

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A key target for bulls yesterday was to break up from the falling megaphone on NDX, and they did that. As long as NDX can hold above broken megaphone resistance that is a bullish break with a target back at the 3717.36 high. If NDX breaks back below broken megaphone support then that would raise a possibility that this break may be a bearish overthrow with an ultimate target in the 3000-3100 area, so I’ll be watching that trendline carefully. NDX 60min chart:

140502 NDX 60min Falling Megaphone Broken Up

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