The Summation Index could move into the 500s before topping out - unlikely, but needs to be considered.
Bullish Percents wobbled but are the least overbought given the aforementioned have breached what had been bear market resistance up to now and the Bullish Percents have only just got there.
Given further weakness is likely, the next question is where will breadth support kick in and at what point will the Nasdaq be when it does?
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.