NICE & NASTI
Apr 7, 2016
Volume & Breadth
Two reliable tools in my kit.
Two things I find RELIABLE are measures of Breadth, and Volume.
NAZ Up Volume (blue solid line) shown has modified with a common TA Math protocol. I include a similar chart for the NYSE.
$NASI, or Mr. Nasti as I call it, is the McClellan Summation Index for the NAZ, (dots), followed by a 6 day simple moving average (red solid line).The volume has fallen away, and the breadth (Mr. Nasti) is a hairs-width away from dropping thru the solid line which is a sell signal. NEXT CHART, NYA
. NYA is the NYSE average, which is the average time, with the other averages being + or (-) some time intervals.
Given that the Standard Timer (NYA) is signaling sell and the NYA has dropped down thru its 8 day exponential moving average which I use for a trip wire, we can see the SPX resisting this due the tremendous support of manipulation it gets. However, before the week is out, In My Opinion, the SELL Signal for the SPX will be executed on these charts as the week draws to a close.
I'd say its OVER this week.
The complete report will be published in this weeks Peak Picks.