Five days decline in s&p 500 since august 29th top

  1. Present price action has been down. There has been a cluster of high volume selling, august 30th, Tuesday and Wednesday. red flag.
  2.  both S&P 500 and NASDAQ above 22 SMA. green flag
  3. Accumulation and distribution rating has fallen since August 29th top from C- and B for S&P 500 and NASDAQ respectively to D and C-. Red flag.
  4. A/D line for NYSE – 1649 Stocks down in 1.95 billion volume and 1138 stocks up in 1.07 billion. volume actually declined but stocks down on double the volume. Red flag.
  5. % of S&P stocks above 50 days SMA is 67.42 and it stabilized last 3 days with a bounce of 64.43. – Green flag.

decision : Be in QLD avoid long on NQ

Yesterday made 22 points on NQ because of price action.