It’s closer to buying time, not selling time

To reprise a post topic from June 14, 2022.

The chart below shows annotations of percentages that the Nasdaq 100 is trading below its 200 day moving average.

On June 14, 2022 that percentage was 22%.

The current percentage is 18%.

This means the mean is rolling over to works its way towards the current price.

It also suggests that the Nasdaq 100 is exhibiting some consolidation in its price action.

Adding weight to this argument is that June 16, 2022 remains the intra-day low (thus far) for the Nasdaq 100.

Invariably, other indicators are showing an increasing probability that the current trend is closer to a change in direction.

July 15, 2022

by Rob Zdravevski

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