ROYAL_OAK_INC

$NDX & $SPX momentum slowing down hard

NASDAQ_DLY:NDX   Nasdaq 100 Index
NDX looks a little short term toppish.

Look at weekly QQQ ;

Considering that the Nasdaq 100 went higher the RSI is much lower than previous top. Shows a serious slowdown in momentum.

Ditto for SPX

However, the equal weight SPY seems to have some room to go.
RSP

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.