NYSE DIVERGENCE IS AN IMPORTANT WARNING
10-19-18 - EXTRACTED FROM - "Trader: "Well I Think There's A Problem Here""
One place that telegraphed the recent market turmoil was the venerable New York Stock Exchange. The NYSE is the worlds largest stock exchange by market cap (21 trillion) yet seems to get very little main stream attention for reasons I'll never understand.
"when the largest stock exchange in the world throws up a few negative divergences, I want to listen"
.. for the following three reasons:
- While the other major indices are hugging their 200 dma, the NYSE is firmly through it,
- Additionally, the 2018 Channel trendline support broken,
- But the biggest tell for me took place in September....while all the other majors were marking fresh all time highs, the largest exchange in the world wasn't even close to confirming ....this doesn't happen often.........another one for the radar.