Option Investor
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Last week I had been mentioning NDX 1302-1308 as a potential upside target for the end of the rally from the March low. This was based on two equal legs up from the November low, top of the shallow parallel up-channel from November (bear flag?), the 2004 low which has been acting as resistance and now the broken uptrend line from November-January. Today's high sprang above this zone and hit 1311.67 but pulled back. It is now trying to bounce back up this afternoon and is nearing 1304 as I type. It's just possible that today is finishing the March rally. At least that's the bearish setup. But any pullback followed by a continuation higher would be bullish and the next upside Fib projection is near 1473.

NDX daily chart:
[Image 1]

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