Dominant TF: Daily and 60mins
Swings: UP-UP-UP
Market direction: mildly up.
60mins: up.
The method cannot detect sudden shocks to the system, but can adapt to them and evaluate subsequent directions and levels. In this case, after an 'exuberant' open, NDX broke pivot level and went up to 2188, but to our surprise, that level also broke fairly easily. MTFS and Entropy are bullish, so the next resistance level may just be 2250. We'll have to watch for the 'stall' level if prices move to fast (~2134).No visible Fib pattern to provide any other scenario at the moment.
Daily: Up, hopefully at a slower pace.
Amazing bounce on 2125. NDX is overbought, and each retracement so far has failed. Entropy is however declining, so one may just try and reach 2250 (or prior stall level).
Weekly: mildly UP - Low significance level.
Entropy is looking good, but MTFS has difficulty adapting to such a strong run. We therefore have 'waves in overbought zone' which may justify looking at a higher time frame.
