As mentioned previously this would be
where our last comment of the NDX would be, but as we haven’t covered it for so
long this is irrelevant.
Also, why the first column in the above table is blank.
One of the main reasons we stopped
covering this index was because nobody was playing in it.
One glance at the above table will show
you that hasn’t changed at all, and don’t forget this is a triple, so meant to
be a “biggie”, ha ha.
All last week the intraday high was
either 7125 or 7150, so for us it has been banging its head on Y2 for quite a
few days now, and, interestingly, it was only on Friday that this index managed
to close above 7125 for the first time this expiry.
So, to fight back yesterday, from a drop
of 132.54-points, to finish virtually unchanged, shows there is some commitment
left in the bulls.
And, to be fair, we can hardly claim
derivative dominance, especially considering the only R ratio in existence
doesn’t appear until 7300, so it’s not as if they have to fight particularly
hard, in fact, a gentle shove would be about enough.
At least, there are people playing in
the other two, but strikingly all three are very similar in that they are
trying to push ahead, but struggling against what is fairly minimal ratio
resistance, and all the while standing at the top of a chasm.
So, all are very susceptible to anyone saying “boo”.