Signs of a Market Top?

by Jeff Pierce, Zentrader

Several signs of a top for the market have put in an appearance. We have found three to mention here:

1. Rising bearish wedge for the NASDAQ Composite 60 minute chart;
2. The volatility index is at lows not seen since 2007; and
3. potential double top for the NASDAQ Composite weekly chart

Note the rising bearish wedge on the Nasdaq indicating we could be close to a point where the current rally stalls.

Volatility has all but dried up. High volatility leads to low volatility and vice versa. We could be getting close to a reversal in volatility.

Another extended view showing the potential double top on Nasdaq and showing how the Vix is at Decade lows.