Hi Everyone
Just a quick update on yesterday’s OVI readings. The Dow and S&P’s OVIs crossed to the upside (the S&P only just) but curiously the Nasdaq’s OVI turned slightly down.
Today the Nasdaq is breaking upwards through its short-term resistance but unless its own OVI follows (or leads for that matter!) it makes a prolonged upside move rather suspect.
Nasdaq (QQQQ) OVI
As mentioned before, I’m not expecting a prolonged move up this year anyway, and my position is that I think we have seen the highs already for this year, and we haven’t yet seen the lows for this year.
More soon
All the best
Guy
To learn more and have access to the OVI visit my Private Traders Club area.
