This is an equity update. We have been waiting for NDXE to complete near year end after large caps held their 50 DMA. Waiting for NDXE Post.
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:
Peace, Om,
SoulJester