redbacka's - forget jackson hole - friday, page-23

NDX hourly. I kind of lost interest after the bottom fell out of the higher double bottom at the start of yesterday's session.

The recent move up in futures has rekindled some interest and the situation here is that a new low hasn't come in for the move down.

There was a marginal new low in the S&P and the 2 main Dow averages, industrial and transportation, look ugly, particularly the latter.

The most positive spin I can put on this comes from the last bar which might be an exhaustion of the sellers if there is no follow through to the downside. Call me a dreamer :)