Boing!

Well Traders, it was bound to happen. Today the $NDX bounced and gained almost $30 points to end the day at $1,802.23. By looking at the MACD and STO positions, this is a "classic" bounce.

The 30DMA has now been eliminated as resistance and is now considered support.

The next resistance level is $1,824, which was pretty solid two of the last three run-ups. After that, we have the diagonal resistance which is vital to preserve this trade.

Time is starting to be more on my side. With less than a month to go, even a big day like today didn't take too much off the table for my trade indicating that time value is really my ally at this point. Of course, 2-3 more $25 point up days and that could move the trade in the House's favor. We'll wait and see how things shake out.

Happy Trading!