Normandy NDY

From previous postings, you will have read and seen that we have consistently called the NDY trend as down. And still this is the case.

I just remind you here, if trying to trade double tops or double bottoms, the trend must still first be identified. Double bottoms, as seen in this chart, are unreliable in a down trend. Much better to find a double bottom in an up trend.

Another WD Gann note can be mentioned here also. Gann noted that the more often a stock approaches a previous low, especially the third or fourth time, the less chance there is of this low holding. NDY broke support at $1, on significant volume, showing weakness, despite even its relatively high dividend yield. I remind you, returns are generated faster by buying into an up trend.