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Tuesday, March 21, 2017 9:59:26 AM
NASDAQ's Negative Divergence Holding The Market At Bay
By Tom Bowley | March 21, 2017
Current Outlook
The NASDAQ is struggling a bit with a short-term 60 minute negative divergence that suggests there are very slight momentum issues and that could be holding the market back from gaining further. Take a look at the recent chart and the pink lines that highlight the negative divergence:
I didn't annotate it, but there's a cup that began forming at the high in early March and was completed with the recent high. So a pullback to test the 50 hour SMA could form a bullish handle from which the NASDAQ launches again.
http://stockcharts.com/articles/tradingplaces/2017/03/nasdaqs-negative-divergence-holding-the-market-at-bay.html
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By Tom Bowley | March 21, 2017
Current Outlook
The NASDAQ is struggling a bit with a short-term 60 minute negative divergence that suggests there are very slight momentum issues and that could be holding the market back from gaining further. Take a look at the recent chart and the pink lines that highlight the negative divergence:
I didn't annotate it, but there's a cup that began forming at the high in early March and was completed with the recent high. So a pullback to test the 50 hour SMA could form a bullish handle from which the NASDAQ launches again.
http://stockcharts.com/articles/tradingplaces/2017/03/nasdaqs-negative-divergence-holding-the-market-at-bay.html
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Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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