Today, NDXE hit its Fibonacci Resistance and completed the move. This is an exhaustion area. We need to see a reaction downwards to know that it is resonating and providing resistance. I had approximated the top around December 27, 2013, so time wise we are in the window and now have potential time and price exhaustion. Here is the chart:
My tight stop in SPX is being tested today with this move. I am keeping the stop a manual stop and may let it get hit over the next couple days and see if we get the reaction. I will post the stop out when I take it. Here is the chart from yesterday's entry.
There always exists a bear path and a bull path. We cannot know which path our future will choose. As always, do your own due diligence, read the disclaimer, and make your own investment decisions.
Looking back, a year ago, we were putting in a significant low which came right at fractal completion at the 1399 area:
