Naz 10-09

After a very volatile week, the Nasdaq ended up falling out of its wedge. It was turned back at its gap and failed to meet the original target.

The indicators are rolling over pressuring price. 2150 (which would be a gift) would be a great area to short, with stops at 2185.

NAZ Long Term

The Nasdaq is nearing it's target: http://rpbsinvsvcs.blogspot.com/2009/08/naz-long-term.html

Nearing the top of a wedge near the target area. It's going to need to make a jump in the next week or so for the target to get hit. It will probably take some robust earning to get it over the bar.

NAZ Long Term

Backtesting the breakout. Indicators are getting overbought. A sustained breakout might be more sustainable if the backtest takes it down to 1900. Unfortunately that's quite a ways from today's close.