Market Outlook NDX for Oct 1st '07

Dominant TF: Daily
Swings: UP-UP-UP
Market direction: neutral to mildly UP, until resistance is truly tested. Probable congestion.

60mins: neutral with possible congestion to minor retracement.
NDX remains somewhat bullish and the 2125 target certainly looks close enough. There is however congestion around 2094 (MM stall level on shorter time frames). Entropy also turned negative, and shorter times frames look more congested.
In case of some retracement, NDX could test 2078 - 2080 first.

Daily: mildly UP. Congestion, due to extreme overbought situation.
NDX looks very bullish and should therefore carry on its ride, although possibly bumpy, to 2125.
One must keep an eye on MM 'stall' level at 2094. AdStoK have now joined in extreme overbought territory, Entropy could peak soon, so one has to watch for a possible congestion to minor profit taking. No change in trend though.

Weekly: mildly UP to UP
AdStoK lines should soon meet, but significance level is low at this time frame, so this is nothing more than a background information.
One can probably anticipate increasing difficulty in reaching the strong MM resistance level at 2125.