Checking NDX & SOX (30 min. chart) Progress

When last we left our leaders they had not yet plunked the moving averages.

NDX fills one gap with another down at support, which is in the 6950 area. SOX is trying to fill the first gap. A drop below the moving averages would probably signal a test of support and lower gap fills.

After the post yesterday they did plunk the moving averages as the entire market got heavier and heavier after gapping up at the open, presumably on “CPI is not too hot!” hype. Now we have the test of key support as the likely play.

ndx, sox

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