The NDX has been stuck in a tight range for months, with support from multiple levels converging at the low end of the range. The major trend line, 200-day moving average, and recent lows all cluster slightly lower, creating a potential breakout point for bulls. However, the NASDAQ has failed to make any significant headway since September, suggesting a lack of directional momentum in the market. While shorting a dull, directionless market may seem appealing, it’s important to consider the risks and potential rewards before making any trades. In this blog post, we’ll delve deeper into the technical analysis of the NDX and NASDAQ, and explore the possible implications of these patterns for traders and investors.