NDX

File this under Other technicals.

NDX is in the middle of an amazing run outside the monthly Bollinger band. Using this index alone, there are only a few times to see 3+ consecutive closes outside these bands. By my count here are past incidences. 

1995 March to 1995 August - 6 months outside the band. Of course this was the start of a massive move in tech, but before this run resumed the index did pause for sideways for about 5 months. 

1998 Nov to 1999 Jan had three huge jumps, and 3 consecutive closes outside the band. Feb 1999 dropped back inside, but was a pullback low in the middle of screaming up. 

The index started to jump outside the band again in late 1999. Nov, Dec, Jan 2000 down but still looks to be close outside, then two more bars outside for 5 total. Everyone knows the rest of the story. 

The only other times to have these kinds of power moves were late 2013 in the QE power up and now, the huge streak as NDX 100 has finally cleared its 2000 top. 

On the plus side, only 1 of the past incidences was a major top. However, some pullback as the market drops back inside the bands is quite a possibility. How far that goes is impossible to know in advance - anything above a rising 10MA keeps trend strongly up.