With the Dow, RUT, and SPX either at or near all time highs, why not the NDX? Well the NDX won’t be getting to its all time highs, but I think 2000 is very doable. I think possibly before the summer of 2007.

On a weekly chart, the NDX has done zippo from November 2006 till now. We are on the verge of breaking this ceiling created from November 2006 and February 2007 and our current prices. The short term indicators are on the bullish side. Long term indicators that don’t flip around much are either bullish or recently turned bullish. Again these are the type of signals that rarely occur. From a longer term perspective the weekly chart is saying its a good time to hold stocks long. This is good news for Joe Shmoe who likes to hold his slow money stocks. Its also good for speculators as well.

The charts show no signs of a bear market or the imminence of a bear market. If the bear wakes up the charts will show its arrival. Be long while the bear sleeps.

Thanks for reading

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