🟥 Divergence on NAS vs Stocks above 200D - caution
I have spoken about this since begining of the year but now it materializes nicely.
The market has never survived narrow niche rallies and this has never been the characteristic of a bull market.
As you see the Nasdaq Composite has started to pull as the percent of stocks above their respective 200 D Moving average is well below 40%. To be confident that we are really oversold I would like to see the
VIX
go to above 25 on this pullback.
Caution is advised.
The market has never survived narrow niche rallies and this has never been the characteristic of a bull market.
As you see the Nasdaq Composite has started to pull as the percent of stocks above their respective 200 D Moving average is well below 40%. To be confident that we are really oversold I would like to see the
VIX
go to above 25 on this pullback. Caution is advised.
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