joefriday ndx at right shoulder june 10


Tech stocks peaked ┬áin 2000 and fell hard into 2002, losing around 90% of the index’s value. Since the 2002 lows, the NDX 100 has created a series of higher lows and higher highs. The rally since the 2002 lows, has the NDX back at highs.

Joe Friday Just The Facts- Potential topping pattern has formed, back at highs. A test of falling resistance is in play this week, that could the right shoulder of a head & shoulders topping pattern.

Tech bulls do not want to see weakness start taking place at this falling resistance line. Bulls want a breakout of falling resistance.


How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past