S&P500 update: 2600 next?!

Last week I reviewed the NASDAQ charts and several other (indirect) indicators. See here. Although the price-charts looked weak and the indirect indicators were flagging warning signals, I was cognizant of the fact that “Price now needs to drop below … $6335 and below the mid-August low ($6177) to confirm major-3 peaked. If it fails…

A review of the NASDAQ’s charts

This is an excerpt of this week’s digest available to premium members only. Contrary to the DJIA, click chart to the right, the daily chart of the NASDAQ (see below) has no peak relative strength values (RSI5) but instead¬†sports negative divergences, has triple negative¬†divergence on the MACD and contrary to the DJIA peak money flow…