The model switched to sell at today's close. If the NDX had closed above 1802 the model would have remained on buy. This is a rather negative omen for bulls given that the high yesterday (c) did not exceed the previous high around Thanksgiving. As I mentioned, the move down from the top looked like an impulse wave in Elliott Wave terminology. The move up since then (a), (b) , (c) now looks like a corrective wave. So the coming wave down is a wave 3 or wave C.
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