Great up/down action this past OPEX week, but the index was down less than 2% for the week despite Fridays big sell-off....just the opposite of last Friday's big gain.
Despite the big run up on Friday, the index had a net loss for the week.
Sto looking to break through the 50 zone...ST MACD histo went negative, LT sliding down. 4 week ema turned down, the second time since the run off the March lows. Still waiting for the 26 week to turn down...kind of flat to a very slight up bias. As mentioned last week, the SPX and Dow are already on sell signals so it looks as the NDX should follow suit.
Sto breaks the 50 zone....Note: 4 out of the last 5 stochastic 50 crosses had the sto go all the way to the over-sold/overbought zones.
LT & ST MACD both locked to the downside....26 week ema went flat for the week. Still hasn't turned down yet...hard to believe as the SPX, INDU has been on the downslide for a couple of weeks. Looks like it wants to here....that would set the stage for a summer decline, but we must get the signal first.