$NDX is the zippity-do-da, hubba-bubba, yippee-yi-yo-kayah of companies. It’s the monster mash.
A muy perfecto trendline (dotted red), attending the monstrous run-up from 7Apr25, cuts the top off of $NDX. And we dropped last Friday.
Yesterday and today we touched on long term support of the 2000 uptrend (purple).
The shorter term green trendline is a confluent piece of price action info.
Losing the purple and green lines of support, which is to say, Friday’s low of 24210, should spell further downside.
Next lower support is the Ichimoku Cloud, about 23650 – 23326. Lower still, there’s a gap directly beneath the Cloud at 23229, and a gap at 21872 (both fuchsia).
Let the trendlines be your guide. For the bullish bet, price doesn’t drop below purple and green, and gets back above 24781. The bearish bet loses support of purple and green.
Quarterly perspective:
Happy Charting!
