Always consider hidden risks
NASDAQ100 Index Bull% Index:  Euphoria Phase ?
 November 9 ​( From Stockcharts, TradingView  )
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The Situation

This Indicator reached only 28% on October 16 2014, the lowest spot level
​of the past ​two years and far away from the last record level on December 
​31 2013 at 86.0% when ​SP500 was at 1848.

​​The main technical indicators like the moving average of the Bullish
​Percentage Index ​of the NASDAQ100 Index  are showing some sign of
​bullishness since October 1 and now stand ​at 73.00%.
​ ​​
(73.06% for the 7 DMA - Day Moving Average).

But getting over the 70% on that Indicator have been in the past a first ​warning sign ​of overbought conditions building up. ( See first chart below - ellipses )​​ A Lot of Optimism is into the Markets Since the beginning of the November 2015 as shown by the first chart below...​​ We are getting into the Euphoria Phase...

​​We are still within a Huge Daily Rising Channel since ​September 29 2015 ​on the QQQ ETF ( PowerShares QQQ tracks a modified market-cap-weighted index of 100 NASDAQ-listed stocks) with 114.45 as ​support and 119.38 as resistance.​ ​( See third chart below - Uptrend Channel )

​​But the most interesting factor is looking at the Monthly Ratio of the Nasdaq100 Index over the SP100 Index, we are back at the level last seen in February 2000 when the real Euphoria Phase began on technology stocks. Interesting Indeed...( See last chart below - ellipses )



NASDAQ100 Index Bull% Index: Euphoria Phase ?  $SPY, $OEX  #Trading #Nasdaq #SP500
SP500 Index Bullish % Index ( Top Panel - Dots )
7 DMA ( Blue Line )
200 DMA ( Red Line )
Nasdaq100 Index ( Bottom Panel )​​
​50 DMA ( Blue Line )
200 DMA ( Red Line )​
Monthly RATIO
Nasdaq100 Index (NDX)
​SP100 Index (OEX)

​Daily Chart