Nasdaq in Limbo

The Nasdaq 100 has been going sideways now for over a month, while the other markets Dow, SP, and Russell have been trending upward (at least till the end of Jan).  Look at this hourly chart of the NDX.  Simply buying around 2725 and selling around 2745 you would have made 20 handles 7 times beginning 1/9/13, not to mention the other side of shorting at 2745ish and covering at 2725ish.  Dropping down to a 12min or 5min chart would have worked well in timing the entries.

Nasdaq 100 hourly chart

On this 10min chart its easy to see a perfect buy setup on the morning of 2/5.

Nasdaq 100 10 min. chart

Author: Geoff

Quick rundown: Grew up in Lombard, Illinois, went to Arizona State University, worked as a CPA with Arthur Andersen & Co, then Laventhal and Horwath, then Rolling Stones, then Heron International, then Goodby Berlin and Silverstein in San Francisco. Moved to the foothills in 1990 and traded futures and designed websites. Married to Kate Stewart, now living in Colfax, CA. We have six grandchildren. I enjoy camping in our RV, hiking, kayaking, fishing, droning and cross country skiing Also conga drumming, photography and dogs.