These are some numbers for the NASDAQ. I know I'm posting on the SPX board but I see very similar numbers on the SPX too. Only the Dow has better numbers and more by much. Nasdaq will close year down at 17500-1800. Still 15% or so left on the downside. I see a similar movie on the SPX. The top 5 companies on the Nsmasdaq make up abbkut 40% of its move uo, and the top 10 make up over 60%. Unless these companies continue to grow at the rate they have been for the last 4-5 years then I think we see a selloff coming soon.
NVDA 
META AMZN 
LLY and 
MSFT make up 19.7% of the SPY, The top 7 make up 34%. You cant count on these heavily weighted companies to grow at the same pace as they have. This spells toruble for the SPX and Nasdaq
SPX MACD (12,26) is -179
RSI (14) is 45
STOCHASTICS (9,6) is almost 97
STOCHASTIC RSI is 100
Williams%R is -2.07
14 Period ATR is 174.
All these indicators are pointing to an overbought volatile market that is likely to reverse a 5 year bullish trend.
NVDA META AMZN LLY and MSFT make up 19.7% of the SPY, The top 7 make up 34%. You cant count on these heavily weighted companies to grow at the same pace as they have. This spells toruble for the SPX and NasdaqSPX MACD (12,26) is -179RSI (14) is 45
STOCHASTICS (9,6) is almost 97
STOCHASTIC RSI is 100
Williams%R is -2.07
14 Period ATR is 174.
All these indicators are pointing to an overbought volatile market that is likely to reverse a 5 year bullish trend.
