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Was It A Reversal Day On The NDX?

After reaching a new intraday high (11 years high), the NDX (Nasdaq 100) lost all its intraday gains in the last hour of trading. This sounds like a key reversal day but in order to confirm it we need an acceleration to the downside today.

Looking at our indicators, there is no new information today: the Sigma trend Index continues to weaken but it remains in positive territory => the uptrend is still in place (We need 2 consecutive closes in negative territory for a trend reversal signal).

The sell signal triggered by our summation 21 index on Monday remains valid.

We are waiting for more information from our key indicators in coming days.

Have a nice day,

 

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