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The Only Major Index - $NDX Holding Above its Support Line

Last week we posted the combination chart below (now updated) and there was one index that was holding above its support line during the past two days ... the NDX.

This week has been tough, and to the point where all five of the indexes had been below their support lines in the beginning. This is a high enough danger condition where the Fed could easily get involved.

This does not represent a strong market on the longer term, so investors should be very cautious.

Major Indices and Support Lines

 

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