NDX 100 “Stopped” in the name of Love? Nope!

Posted by Chris Kimble on 10/09/2012 at 11:19 am; This entry is filed under Nasdaq 100.

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NDX 100 hit the top of its 10-YEAR channel a couple of weeks ago, at its 50% retracement level of the tech bubble highs and created a "trend reversal weekly Doji Star pattern" at (1) in the chart above.

Doji Star patterns have been cropping up in a wide variety of places in the past few weeks. Apple did (see here)  Gold & Silver did (see here)

Doji patterns at highs DO NOT confirm a trend change!  Do be aware that when this pattern takes place at channel and Fib levels, it increases the odds that the Doji is meaningful!!!

 

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