Always consider hidden risks
NASDAQ100 Index Bull% Index:  Optimism Falling ?
 August 18 ​( From Stockcharts  )
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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 weakness since August 12...​

​​This ratio turned on a bearish trend since August 12 and now stand ​at 51.00%
​​(51.57% for the 7 DMA - Day Moving Average).

But getting under the 60% on that Indicator have been in the past a first ​warning sign ​of oversold conditions building up. ( See first chart below - ellipses )​​ Not a Lot of Optimism was into the Markets Since May 14 2015...​​

​​That Indicator is in bearish mode since August 12 and far from the 200 DMA ( Day Moving ​Average ) levels as you can observe on the chart below. ( See first chart below - Red Line )​​

​​But the most interesting factor is that the Lower Highs in the Bullish Percentage Index ​of the NASDAQ100 Index since March 2015 and the toppish SP500 Index within a rising wedge. ( See second chart below - ellipses )



NASDAQ100 Index Bull% Index: Optimism Falling ?  $SPY, $SPX, $ES_F  #Trading #Nasdaq #SP500
SP500 Index Bullish % Index ( Top Panel - Dots )
7 DMA ( Blue Line )
200 DMA ( Red Line )
SP500 Index ( Bottom Panel )​​
​50 DMA ( Blue Line )