Caution is advised for Nasdaq’s IXIC, NDX indices

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In line with updated data showing some more net inflows in favor of European, Emerging Markets (EM) stocks, both the NASDAQ Composite (IXIC) and the NASDAQ 100 (NDX) could be topping as their respective RSI seems to build a bearish divergence with the price. Although there is first indication that both indices could be overbought, the trend remains however bullish overall. As a result, caution seems advised for buyers along with a close monitoring of how IXIC, NDX behave in the next few days and weeks. IXIC and NDX are up 18.7% and 20.56% YTD respectively.


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