The potential for a multi-week correction in NASDAQ Composite

This chart shows the performance of NASX vs NYA (logarithmic scale). The resistance line goes back all the way to 2008. Every time NASX/NYA touched the resistance line in the past was followed by a multi-week correction (underperformance of NASX relative to NYA).

The action over the last three weeks looks like a classic Evening Star reversal pattern.