Chart of the Week: % Nasdaq Daily MACD Sell

Thursday, August 26, 2004 | 03:53 PM

Technimental Research observes “Short-term indicators that have flashed accurate inflection points of late suggest the market is approaching short-term overbought levels and could make a minor top very soon. The odds of this increase with good resistance near 1,875 on the NASDAQ.”

% Nasdaq Daily MACD Sell
click for larger chart
Source: Redwood Technimentals

The red circles on the charts above highlight when very few issues on the NASDAQ have MACD sell signals. These low readings (below 20%) have corresponded to short-term peaks in upside momentum.

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