JohnKeverich

The potential for a multi-week correction in NASDAQ Composite

This chart shows the performance of NASX             vs NYA             (logarithmic scale). The resistance line goes back all the way to 2008. Every time NASX/NYA touched the resistance line in the past was followed by a multi-week correction (underperformance of NASX             relative to NYA             ).

The action over the last three weeks looks like a classic Evening Star reversal pattern.
Damn, I'm good.
snapshot


Still plenty of room for NASX to correct.
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Looking good for so far
snapshot
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