FFTY is the index of leading stocks in the market. It is actually an ETF. the market’s leading growth stock. It is an excellent indicator of general health of the market, for the institutional buyers buy the best stocks in good times, and dump them to preserve their profits in bad times.
Since Aug 20th 2018, FFTY went up around 7%, NASDAQ up 4%. that is brilliant and beautiful.
they have been 4 high volume selling in the market last 30-40 trading days. a good count and not that bad. yesterday (i am here in Hyderabad India with my parents and it is wednesday here September 5th 2018 around 9:00 am) the volume came up above Friday. Now it is not bad because it is a labor day holiday weekend volume..
the Accumulation Distribution line for NYSE has reversed with 1810 stocks down on 2.01 Billion volume and 990 stocks top in 0.94 billion volume and the number of S&P stocks that have been trading above their 50 day SMA is fallen down since last August 29th till yesterday, Wednesday to Wednesday – which is just 4 trading days, from 73.75 to 66.48 7%. these 2 are red flags.
QLD volume is 768 K and it is a red H-A candle with red volume but not significant volume. QLD wonderfully above 9 EMA daily chart and a nice bounce yesterday.
Near term NQU18 near term resistance is 7650 and then 7693 and then 7697
decision : wait in NQ to enter stay in QLD long