Monday, May 13, 2013
By Scott Pluschau
And the Siren I hear is of the "warning" kind.
Here is a look at the Nasdaq Composite Index Advancing Minus Declining Line in Issues for Monday May 13th, 2013. While the Nasdaq Composite Index was up on the day, making new 52 week Highs, this indicator was NEGATIVE 176 Issues at its high point of the day which can be seen in the white bubble high on the chart below.
(Click on charts to expand)
The next chart below of the Nasdaq 100 futures shows the volume has not been above the 50 period moving average since the breakout of trendline resistance on the Daily chart.
I believe for many reasons it is the rampant speculator pumping the market higher, such as those who write "Algo's" on the Major US Equity Index Futures. I do not believe it is the Long Term Investor who is involved, making these markets ripe for a 5-20% correction.
Twitter/Stocktwits/Linked In @ ScottPluschau
Contact ScottPluschau@gmail.com
Here is a look at the Nasdaq Composite Index Advancing Minus Declining Line in Issues for Monday May 13th, 2013. While the Nasdaq Composite Index was up on the day, making new 52 week Highs, this indicator was NEGATIVE 176 Issues at its high point of the day which can be seen in the white bubble high on the chart below.
(Click on charts to expand)
The next chart below of the Nasdaq 100 futures shows the volume has not been above the 50 period moving average since the breakout of trendline resistance on the Daily chart.
I believe for many reasons it is the rampant speculator pumping the market higher, such as those who write "Algo's" on the Major US Equity Index Futures. I do not believe it is the Long Term Investor who is involved, making these markets ripe for a 5-20% correction.
Twitter/Stocktwits/Linked In @ ScottPluschau
Contact ScottPluschau@gmail.com
