Technicals of the Nasdaq Bullish Percents are all negative, supporting the idea of an intermediate top. Potential Nasdaq buyers remain best served by waiting for the 50-day MA to break.
Buyers are unwilling to get involved and this means weaker prices from lack of demand rather than active selling.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website