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NDX100 Daily: Close 01/19/12 |
Another 'up' day, yet another non-confirm by the McClellan @ only +0.79, suggesting again the potential for a major-move (>1%) in the NDX.
One could argue that the 'dis-connect' again suggests that the move will be lower.
If one 'strips' out the SOX (up 6.5% for the week) from the NDX (up 2.94%), perhaps it shall be so.
No signs of a top in the SOX, however it rarely 'rings a bell' to warn of such.
