Les: Yes, I saw that too. I have not seen any discussion this weekend on the issue of whether that was an exhaustion gap or blow off spike in the composite and ndx. Interesting. The volume on the reversal suggests that is quite possible.
Volume on the QQQs:
stockcharts.com[r,a]dhcayiay[pb20!b50!b200!c20!d20,2!f][vc60][iLb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G
NDX:
stockcharts.com[r,a]dhcayiay[pb20!b50!b200!c20!d20,2!f][vc60][iLb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G
Then consider the blow off in the BPNDX to record highs of 91 on Friday but with a close down in the ndx under dark cloud cover. BPNDX blew off on the December top too despite the intraday reversal. |
