FINANCIAL ICEBERG
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​
 TECHNICALS
Nasdaq Composite Index: In a Bad Mood?
​March 18 2016 ( From TradingView, Stockcharts.com )
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​The Situation
​
​​​Financial assets like the SP500 Index had a very good performance 
​indeed since bottoming out on February 11 2016 as even the Nasdaq 
​Composite Index joined the party. Trading in a steep uptrend channel
but still far from the ​200 DMA ​( Day Moving ​Average ). 
​(See 2nd chart below - Green Line)​

But few of us realize ​the strong ​under performance of the Nasdaq 
​Composite Index​ ​compare to the Mighty SP500 Index (ratio)  lately as we 
​are retesting the Major Support Trendline that started back since April 2013 as shown by ​the chart below. 
​(Second Chart Below - Red Trendline - Ellipse)
​
But the real interesting part is looking  on a relative basis the Bullish Percentage index between the Nasdaq Composite Index and the Mighty SP500 Index (ratio), we are now at the lowest level since October 2011!
​​(See third chart below -  Ellipses).

​The market do not favor the technology stocks over the broad stock market indices lately. As history repeat itself, we must acknowledge that this Support Trendline on a relative basis is the last call for Bulls for the Nasdaq Composite Index. ​(Second Chart Below - Red Trendline - Ellipse)


​​





Nasdaq Composite Index: In a Bad Mood?   $COMPQ  #Trading #nasdaq #investing #sp500


​Daily Chart ( Candles )
Nasdaq Composite Index
20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​​​










Financialiceberg.Com



Daily RATIO 
Nasdaq Composite Index
over SP500 Index 
​20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​




Financialiceberg.Com


Daily RATIO 
Nasdaq Composite Bullish Percentage Index
over SP500 Bullish Percentage Index 
​20 DMA ( Day Moving Average - Blue Line )​
50 DMA ( Day Moving Average - Red Line )​​




From Stockcharts.com