Nasdaq 100: My Big Fat Engulfing Candle

The day is young so this is obviously not a given; but so far NDX is on its way to painting something that legions of bullish momos, casino patrons, day traders, quants, black boxes and substance abusers would not be pleased with; a bearish engulfing candle.  What’s more, it is coming amid an ongoing negative divergence of new high after new high (including today) by … Continue reading Nasdaq 100: My Big Fat Engulfing Candle

NDX and SOX, a Roadmap

NDX is in a sloppy looking pattern, is dropping into a support zone and needs to hold the moving averages to avoid going from sloppy to bearish.  Captains like Alphabet, Facebook and Apple are shaky to bearish and obviously valuations are starting to matter.  NDX is down another 1+% in pre-market. SOX tends to lead NDX, and it has a potentially more pleasant setup, depending … Continue reading NDX and SOX, a Roadmap

US Market: Friendly Reminder

A friendly reminder to the bears.  Though what is going on in the markets seems awful and indeed could be signaling macro changes to come, the US stock market is not broken, technically. Indeed, the Nasdaq 100 has not even reached our projection for a ‘healthy’ correction yet.  It has not even reached the 1st supportive moving average. Click to expand the chart. Subscribe to … Continue reading US Market: Friendly Reminder