The Naz CI's continue to trend down. They're under 10. They were up intraday, but it didn't last.
The S&P ones moved up a little higher today, after reversing to the upside Friday. They're back in the 30s.
Neither the S&P CI's nor the the Naz ones bottomed out at 0 in all time frames last week. Intraday, it was close, but there was no capitulation with the CI's at the close Friday. That makes me wonder. Further, some obvious support levels weren't hit, after higher support levels failed earlier in the week. Another reason to wonder.
Also, the Naz CI's haven't reversed to the upside yet, and they might drag the S&P ones down. On the other hand, if there were a reversal in the Naz CI's, there could be a rally. I suspect the lows will be retested, though, and maybe breached. |
