Don't Ignore This Chart!

Nasdaq Summation Index Moves Lower


Even though the Nasdaq is trading above its mid May levels, the Nasdaq Summation Index (green line) is trending lower. This breadth indicator suggests that a "stealth" correction is underway within the Nasdaq. In other words, stocks within the index are showing some weakness, but the index itself has yet to buckle. You can click this chart to see the details.


Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus