I am fully expecting the NDX weekly chart to hit the 35 week MA before the downside is complete. When the weekly MACD is crossed down I only look for short entries on the smaller time frames. You can get counter trend rallies to the upside of course, such as when $AAPL had an earnings beat. The predominant force is still to the downside. The only exception to that is if there is a change in fundamentals such as if the Fed for example (This wouldn't really happen) were to say that they wont be raising rates for the next two years. That is just an example to show why I say that technicals and fundamentals are equally important. Just like why I didn't get caught when the SNB unpegged from the euro. I knew the fundamentals of trading that pair were no good and that is why I stayed away from all CHF pairs.
The NDX daily cash chart is showing a rejection off the flat kumo
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