Nasdaq is testing the previous top and will decide whether to reverse from here or go above 14000ish levels. Two indicators show us a double top is not out of the question. First, the volume of the near surge is decreasing just like the previous top. Also, upward moves consist of many gaps, even more than the earlier top. This means this increase may not have a strong foundation. Second, the spearman correlation indicator which worked very well for some time has almost given a sell signal. One down day may complete the sell signal. But is it wise to bet against Nasdaq with this momentum on its back? This will be the main question despite the strong down indicators.
