This still looks like just a normal pull back. Friday’s price action makes me think so even more. It dropped in the morning and then reversed the rest of the day.
IF the market is to move higher, NHNL and Capital NHNL both need to move positive in the next couple days. IF market breadth moves that direction, I will get off the sideline and go long. I would have liked the pull back to have been more aggressive, but the market did not ask me! At least this time, it looks more convincing.
Net NHNL and Net Capital NHNL have gone below their thresholds where I start looking for an entry and bottom.
The 52 week high is something I will watch with great interest. If it cannot get back above 0, that is a huge red flag.
That seems to happen around market tops. Here is the end of 2021 as a reminder. It topped in early 2022 and corrected over 30%
