Prepare for Monday Crash!After having several distribution days in the last half a year, with the beginning of 2018 the Nasdaq has further accelerated from its usual uptrend, only to have a sharp 10% decline with volume increasing. It broke the previous highs later, but on miserable volume, followed by other high volume selloffs. The recent rally back to the 50 day Moving Average is also accompanied by significantly decreasing volume. All of these signs combined with the Bearish Engulfing candlestick pattern right at the 50 day MA is a really big danger sign for Monday. The S&P500 and the Dow is also showing the exact same patterns.
