A simple indicator that shows the net new highs minus new lows for an index shows us a couple of things. First, the natural cycle of buying and selling that occurs in the marketplace and second, the health of the market. The Nasdaq number just pulled back below zero, meaning more new lows than new highs, but this zero
level is critical. This trend higher in prices, on negative money flow, and deteriorating internals suggest we have some downside work to do to set a bottom and continue this advance.
What the chart also shows us is when and where to expect a bottom when there's major selling. We haven't seen those opportunities much in this marketplace. But those times will eventually return.
So stay tuned. and we'll keep
updating when we can.
Thanks!
P.S. Check out this video as the next cryptocurrency move could be upon us.