$NYSI is now giving a bona fide sell signal so when the worm turns you just have to be very, very careful in trying to trade the long side.
I have been watching Wilder’s ADX for some time. A few weeks back, late October, it looked as though the ADX was getting ready to cross up through the -DI line, which would have been bullish and would have brought in a whole new wave of buyers who trade on that strategy. But it didn’t happen. In fact the failure pretty much marked the most recent top.
Now the ADX looks to be getting ready to cross up through the falling +DI line, and if this does come to pass, then the ADX will put juice into the downward move.
Probably won’t be much action for the remainder of the week due to the holiday and then the early closing on Friday. This is going to make a mess of the weekly charts.