Technimental Research observes “Short-term indicators that have flashed accurate inflection points of late suggest the market is approaching short-term overbought levels and could make a minor top very soon. The odds of this increase with good resistance near 1,875 on the NASDAQ.”
% Nasdaq Daily MACD Sell
click for larger chart
Source: Redwood Technimentals
The red circles on the charts above highlight when very few issues on the NASDAQ have MACD sell signals. These low readings (below 20%) have corresponded to short-term peaks in upside momentum.
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Quote of the Day:
“In democracies, nothing is more great or brilliant than commerce; It attracts the attention of the public, and fills the imagination of the multitude, all passions of energy are directed toward it.”
- Alexis de Tocueville (1805-1859)
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