although as i type, it’s still too early to call this small bounce in the markets much of a counter-trend spike vs. just a blip, but if the market does continue to move higher into the close, it would be in-line with the recent patterns shown on this updated 60 min NDX chart (last chart, the first two are the previous charts to illustrate how this is playing out so far). of course, stay flexible and respect any significant deviations from this pattern, such as a move that carries prices significantly above the top of the channel. until then, best to respect the pattern which points to lower prices ahead as the most likely scenario.
