Market Analysis (14 June’21)

While Nasdaq index has been advancing for the most of Monday’s session and eventually made a new all time highs into the session close, its market internals performed relatively poor today.

Nasdaq’s Advancing – Declining Issues and NDX, 1m

While this is not a sell signal in itself, if NDX drops below 14000 during the next 2-3 sessions, this type of price action might actually lead to a failed break out. Hence, for the bullish momentum to continue, bulls need to keep NDX above the critical 14000 level!

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