Will the Nasdaq Summation index signal a top?

I was somewhat frustrated to see the Nasdaq Summation Index back above, what I consider to be, a bullish trigger line (5-day EMA) in the daily chart. Unfortunately for bulls, there appears to be little leg room for this indicator to advance further. What it means for the NASDAQ and NASDAQ 100 remains to be seen. Keep an eye on the weekly version of this indicator, and its corrsponding MACD. The weekly MACD has provided a decent marker for tops (and bottoms), and the next crossover (bearish) may not be far away.




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