The Nasdaq Advance Decline Issues chart has given a Parabolic Sar sell signal today. As a reminder, I was lamenting the fact on the Saturday Show that I had not given more respect to the Parabolic Sar buy and sell signals on the Advance Decline charts.
Nasdaq Advance Decline Issues Chart
The market prediction on last Saturday’s show for QQQ is a slow fade up. Here is the QQQ market prediction chart from the show:
That’s awesome that every trading day so far this week has practically touched the drawn prediction path. However, if the Parabolic Sar signal on the Nasdaq Advance Decline Issues chart is correct, I think the slow fade up prediction path will be too bullish.
Markets Exist To Screw The Greatest Number of Traders
If most traders think the Nasdaq is going to rally right now, you can rest assured it will do the opposite. Markets exist to screw the greatest number of traders at any given time. I get a lot of laughs and eye-rolls when I say that to people but think about it. What a great time to do a headfake as the market is doing a breakout and the mainstream financial media is talking about markets hitting all-time highs.
I’m not going to modify the market prediction path downward just yet. The slow fade up has been extremely accurate so far this week. We need to see what the Nasdaq Advance Decline Issues chart does over the next couple of days.