Today’s minor sell-off in the market and the NASDAQ ( -0.36%) triggered a SELL signal on the NASDAQ Composite’s MACD indicator (Indicator #5) as it crossed to the downside (refer to first chart). This was not unexpected as the market has been overbought for at least two week.
Indicator #8 is close to an MACD crossover, so be aware of that.
There could be a few more days of selling or the start of a larger decline or a slight pause before a move higher. The market could settle into a trading range for a while or move decisively one way or the other. No one knows which way it will go, so be patient and make sure your stop LIMITs are in place. We will have to wait and see what develops. If there is a Dashboard SELL signal tomorrow, then I will post on Thursday evening. If not, then I will post my full report on the weekend as usual.