Testing Support?

Well Traders, my anticipated drop in the $NDX is starting to occur. Today the index was down over $15 points at one point, but closed down $9 at $1,830.59. The MACD and STO are definitely showing weakness as I predicted last week.

Today, the index did test support at $1,820 and held. This may have been a temporary thing as I see the index passing below this point on this downturn. Still, one must always be mindful of what the chart is telling us. Right now it is telling me to watch this support level.

The trade has less than 3 weeks left, so Time Value should start to burn off much quicker as March 16th approaches.

Happy Trading!