I posted a chart earlier this afternoon highlight the 2250/2262 channel in the NDX which has been in place for most of this week.. I suspected if the price broke over 2260-2262 buyers would come in or sellers under 2250.. The bulls prevailed, they took the NDX clear up to 2274 after the 2260 breached triggered a buy program resulting in a 10 handle 5 min candle..
Index futures are quiet tonight.. I will be watching Crude downside as the dollar firms up in the face of European and specifically Portugal's crisis... Gold also showing hints it wants 1500, the sleeping giant.
has been quietly churning the past month or so.. With fears of a world economic and political collapse stir, the demand for gold rises...
|NDX 5 min|
Final thought.. do not trust a quiet market..