The NASDAQ High Low Index has forged to record levels. Here is a current chart, showing the Index versus the NASDAQ price. For the sake of clarity, only the days that the Index has been over a value of 0.0225 are shown. An explanation of the derivation of the Index can be found in the 2nd Edition of Robert Colby's 'The Encyclopedia of Technical Market Indicators'. Decide for yourself the degree to which this Index correlates with market tops.
