The bullish percent for NDX [^BPNDX] has reversed into a column of O’s currently sitting at 70% on the chart.
Market Update Webinar Replay - Missed Monday's webcast? Click the link(s) below for a recap:
Beginners Series Webinar - Join us on Friday, July 17th, at 2 PM (ET) for our NDW Beginners Series Webinar. This week's topic is Understanding the Asset Class Group Scores Page. Register here.
With the recent pull back earlier this week, we are starting to see a narrowing in participation in the large cap tech-heavy space, as illustrated by the Nasdaq 100 Index NDX. The bullish percent for NDX ^BPNDX reversed into a column of O’s and is currently sitting at 70% on the chart. As a reminder, the bullish percent measures the percent of stocks that are on a Point & Figure buy signal or controlled by demand. Remember, the bullish percent serves as a risk barometer. While this indicator is not the only chart we consider, it is worth keeping an eye on to see if defense continues to be on the field. Those with exposure to the Nasdaq 100 or its constituents should review their holdings. With the diminishing of participation, we recommend identifying viable stop loss points for positions that may be in your portfolio.
