The Market Perspective: NDX Plays Catch Up

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It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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January 24, 2023

NDX Plays Catch Up

Tuesday Jan 24 2023

Judging by PMO and MACD it looks like NDX which lead the way down in 2022, will challenge its 200 day MA, the red line. I am guessing that will top NDX out.

NDX last year

NDX has stayed under its 200 day MA since its December 2022 high. No doubt investors are encouraged at teh multiple successful tests of the 10,500+ bottom.

We remain skeptical but MAs are flattening and an over sold rally could continue.

Bonds

TLT20 year bond fund

115 would be a 38% re tracement

and that is possible, PMO could rally more here. The continued talk of less FED raises makes this possible.

Notice the cluster of resistance in the 110-115 area.

Posted at 05:44 PM in Bonds, Stock Market | Permalink

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The Market Perspective

Market Commentary by Dennis Elam dennislelam@gmail.com

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