NYAD NYSE Advance-Decline Daily Chart

The 2000 and 2100 levels typically indicate near-term market tops and bottoms. The NYAD pegged +2100 yesterday. The red circles show excessive selling resulting in market bottoms and the green circles show elevated euphoric buying indicating tops. Markets either peak or bottom coincidentally with the high or low NYAD print, respectively, or within a few days. The SPX printed at 1917-ish with the low -2500 print but the SPX took another four days to bottom under 1910 a few handles lower. So with the elevated +2100 print yesterday, a near-term market top is likely and should occur at any time in the hours and days ahead. The bulls may try to squeeze out a few more handles of upside like the August low squeezed out a few more SPX handles of downside. 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.