Friday, March 26, 2010

As I type the NDX is at 1944 it seems the uptrend is stalling out we have an immediate downside target of 1891 a breach of here would bring the validity of the long term uptrend into question. Since we opened the trade at 1903 the potential is for only a 12 point loss and so this is not of great concern if we breach 1891 then we will go long term short with a target back down at the 1700 area where we made the low in early February.

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