NYHL New Highs-New Lows Daily Chart High Reading Negative Divergence

NYHL is peaking again.  Sure it can travel upwards a bit more but at this level it is indicating that it wants to see a pull back in the broad markets.  Note the blue lines showing the negative divergence that wants to see a spankdown. As the NYHL moves down, the number of new highs are decreasing and the number of new lows are increasing which corresponds to the broad markets selling off.

The red cirlces show the recent tops.  In late October, that top led to a one-month market sell off in November from NYA 7800 to 6900, losing 11.5%. The middle red cirlce amounted to a small pull back but the markets quickly jumped higher to where we sit now.  What do you think will happen? This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.