A few charts...
Weekly put/call, equities...2 and 4 week averages, with the $SPX superimposed......
Next, the $NDX Microtrendline chart, hitting the ceiling.......
Finally, IWM, an ETF proxy for the Russell 2000...
Notice in this chart, that the price action has exceeded the weekly Bollinger Bands...
This is not that common of an event on the upside, usually happens on bottoms...
The daily RSI is a real serious 76.57, which is an extremely overbought reading, and
with our double node warning just yesterday...well, if this isn't a rapid reversal target, I
don't know what is.....
Next, the $NDX Microtrendline chart, hitting the ceiling.......
Finally, IWM, an ETF proxy for the Russell 2000...
Notice in this chart, that the price action has exceeded the weekly Bollinger Bands...
This is not that common of an event on the upside, usually happens on bottoms...
The daily RSI is a real serious 76.57, which is an extremely overbought reading, and
with our double node warning just yesterday...well, if this isn't a rapid reversal target, I
don't know what is.....
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