Home > Boards > Free Zone > All Trading - Technical > NASDAQ & QQQ Analysis and Trends

NDX Erases ST Neutral Signal

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
DiscoverGold Member Profile
Member Level 
Followed By 587
Posts 83,287
Boards Moderated 45
Alias Born 03/10/04
160x600 placeholder
10-Year Treasury Yield Rises to 1.845% -- Data Talk
The 10-year yield rose 0.061 percentage point to 1.845% today. The price fell 17/32 to 95 26/32.
30-Year Treasury Yield Rises to 2.166% -- Data Talk
2-Year Treasury Yield Rises to 1.089% -- Data Talk
Southern Co. Joining Hydrogen Council
Front Month Nymex Natural Gas Rose 5.53% to Settle at $4.2770 -- Data Talk
Front Month Nymex RBOB Gasoline Rose 2.58% to Settle at $2.5229 -- Data Talk
Verizon Worst Performer in the DJIA So Far Today -- Data Talk
AT&T Down Over 7%, on Pace for Largest Percent Decrease Since March 2020 -- Data Talk
Wheat Drops as Traders Collect Profits -- Daily Grain Highlights
Microsoft On Track for Largest Percent Increase Since August 2020 -- Data Talk
Rivian Shares Higher After Report of Production Ramping Up
Top Company News of the Day
FTSE 100 Closes Up, Boosted by Travel, Retail and Energy
DAX Ends 2.22% Higher at 15459.39 -- Data Talk
CAC 40 Index Ends 2.11% Higher at 6981.96 -- Data Talk
STOXX Europe 50 Index Ends 1.56% Higher at 3733.69 -- Data Talk
Automatic Data Processing Down Nearly 6%, on Pace for Largest Percent Decrease Since July 2020 -- Data Talk
EURO STOXX 50 Index Ends 2.12% Higher at 4164.60 -- Data Talk
STOXX Europe 600 Index Ends 1.68% Higher at 467.31 -- Data Talk
FTSE 100 Index Ends 1.33% Higher at 7469.78 -- Data Talk
UBS Acquires Wealthfront in $1.4 Billion All-Cash Transaction
Teck Resources to Deploy Fleet of Caterpillar Zero-Emission Vehicles at Operations
Inventories of Ethanol Climb to Highest Since 2020
U.S. Oil Inventories Surprisingly Rise as Refinery Activity Slows
U.S. New Home Sales Increased Sharply in December to Nine-Month High
Titan Medical Receives Milestone Net Payment of $8.3M
GDP Seen +5.5% in 4Q -- Data Week Ahead
MamaMancini's Shares Up After Amazon Fresh Authorization
Brazil Current Account Deficit Narrowed in December to $5.9 Billion
Adidas to Hire More Than 2,800 New Employees This Year
DiscoverGold Member Level  Friday, 08/03/18 08:06:51 AM
Re: None
Post # of 65228 
NDX Erases ST Neutral Signal
By: Erin Swenlin | August 2, 2018

NDX Erases ST Neutral Signal - Insult to Injury...TLT Adds Another SELL Signal

The ST Trend Model Neutral signal that the NDX carried for a few days gave way to a new BUY signal as the 5-EMA launched above the 20-EMA on today's strong rally. I've annotated the change on the DecisionPoint Scoreboards below. TLT triggered a Long-Term Trend Model SELL signal yesterday and today it is now being followed up with a Intermediate-Term Trend Model SELL signal.



I noted two days ago when the PMO and STTM generated bearish signals that the NDX was at a critical point of support where the June top and rising bottoms trendlines intersected. If the NDX couldn't hold that support area, the next likely area of support was down to 7000. If we see some follow-through on this rally, the PMO will shed the SELL signal.



Interestingly, the $VXN popped skyward but hasn't quite punctured the upper Bollinger Band on the inverted scale. I invert the scale because I use it as a very very short-term indicator to project the next few days. When the market gets very complacent and bullish with a low VIX or in this case, VXN reading and you see a reading above the upper band, typically it will be followed by some downside price activity over the next few days. We didn't see it punch through the band despite a huge decrease in the reading, so I would look for some more follow-through to upside. Just keep watch for that upper band penetration.



A new Intermediate-Term Trend Model SELL signal was triggered when the 20-EMA crossed below the 50-EMA while they were below the 200-EMA. Had the crossover occurred above the 200-EMA, it would have been a neutral signal. The rapid decline has been fueled by higher yields, but we did get warning with the overbought PMO SELL signal last month. The recent LT and IT Trend Model SELL signals are confirmation that a continuation of the correction on Bonds should be expected.



Technical Analysis is a windsock, not a crystal ball.

Happy Charting!
- Erin

https://stockcharts.com/articles/decisionpoint/2018/08/ndx-erases-st-neutral-signal---insult-to-injurytlt-adds-another-sell-signal.html

DiscoverGold

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!
• DiscoverGold
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences