[isatrader]

The divergence between the NYSE and the Nasdaq has continued over the last month, with the Moving Averages Breadth charts all on Bear Confirmed status in the lower half of the scale and today some of the other breadth gauges have joined them with the Nasdaq Cumulative Advance Decline Line breaking down, the Nasdaq Momentum Index rapidly approaching it's zero line, and the Nasdaq Bullish Percent Index closing the day in the bearish half of the scale below 50 for the first time since 2012. So although there are numerous signs on the short term gauges that it's oversold, the medium and longer term measures still have a long way to go before they get to oversold levels, and hence with the Nasdaq Composite chart itself still yet to breakdown, my conclusion is that it's in late Stage 3B and the signs from the breadth indicators suggest that it hasn't got many more dead cat bounces left before it moves into a full Stage 4 decline.

The Nasdaq Bullish Percent Index

   

Nasdaq Percentage of Stocks above their 200 Day, 150 Day and 50 Day Moving Averages P&F charts

           

Nasdaq Percentage of Stocks above their 200 Day, 150 Day and 50 Day Moving Averages line charts

           

Nasdaq Advance Decline Line

   

Nasdaq New Highs New Lows