Below is a copy of Friday’s chart. The -18.66 reading is extremely low.
Options expiration may have had something to do with the unusually low reading, but rather than try and justify it away I decided to look at other times where the Nasdaq Volume Spyx came in extremely low. I set the parameters at -5 or below to get a decent sample size:
The results above are quite bearish short-term. Especially interesting is the fact that of the 26 occurrences, every single one of them posted a close below the trigger day close within 3 trading days. If the perfect record is to hold up, the Nasdaq will have to post a close below 1564.32 by Wednesday.
1 comment:
If the perfect record is to hold up, the Nasdaq will have to post a close below 1564.32 by Wednesday.
Cha-ching!
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