US 100 Index

NDX--Nasdaq 100 Short Term Retracement

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I have a couple lines drawn as you can see. Both provide what I think are points of resistance for a possible brief retracement. The orange line is a daily estimate and the blue line is a weekly estimate (you can switch the views in the upper left corner of your screen right next to the ticker--1D is one day, 1W is one week, etc.) Even though the blue line was drawn on a weekly chart, it still looks pretty decent to me on daily. I think NDX is possibly going down (only briefly; I think the Bulls are still pretty strong right now so don't panic) due to the two Black Crows which you can view with the chart set on weekly. Theory/Estimate #1--Orange is the resistance and the NDX will drop to 6220/6230ish within a couple days, or at the most by end of this week (Friday, December 08, 2017) and use that to bounce up. Theory/Estimate #2--Blue is the resistance and NDX will drop to roughly 6200ish and bounce. Blue resistance may take slightly longer than Orange; possibly a couple weeks. I think once it hits either of those resistance lines it will continue its uptrend. A wild card to consider: Christmas shopping is in full swing and the Market may reflect consumer spending, both online and at "brick and mortar" locations.

I am not a professional. I am an amateur who is not licensed, certified, or compensated (financially or otherwise) by anyone or any organization to give financial or Stock Market advice. Use your best judgment. I am not currently in any play, or hold any positions with or for NDX; nor do I plan to enter any during 2017.

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