Currently the NDX100 is trading at 1817 this is above our stop at 1805 and so the short trade is closed giving us a running score of Wins 80 Losses 30. The longer term trade remains short from 1890. Looking at the cycles it seems the NDX is still in it's bear phase until at least the end of February. Looking at individual stocks Microsoft has been adhering to its Bayer cycle with virtual perfection. It is about to enter the final down phase of this cycle so we should expect the market to be dragged down with it.