Looking For A Selloff Today

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March 15, 2006

I’m looking and hoping for a good healthy selloff today. The maount we go down today will determine whether I want to stay short or go long.

The short term indicators have turned up, but I think its going to be very short lived up move. The Head and Shoulders pattern on the NDX is ominous and it appears the NDX will retest the neckline at a minimum.

There is a chance that the NDX makes such a move that would appear to invalidate the H&S, but ultimately it will play out.

Some bearish news links for your perusal.
Link 1

Link 2