NFTRH; SPX, NDX & Dow (Daily)

A super simple look at the 3 major US indexes by daily chart…

As you can see, the indexes dropped from the point of the post-BoJ hype burst right to short-term support areas, which are the clusters of up and down days we noted from last week.  These areas are roughly 1900 for SPX, 4200 for NDX and 16,100 for the Dow.

If the indexes find support here, our targets equivalent to SPX 2000 (+/-) are still attainable, despite yesterday’s hard downside, which was needed to unwind the unsustainable hype.  A loss of these areas would get us on alert for the next downside move.

spx, ndx and dow daily chart