This chart plots weekly performance of NASX vs NYA. In my last post back in July I noted that NASX/NYA was pushing into major long-term resistance. I expected a significant multi-week correction to proceed from there. However NASX did not breakdown in August, indicating that the real correction is potentially still ahead of us. From the trading perspective, it...
NYA is the price of the NYSE index, a broader cut of the market than SPY,QQQ or DIA alone. TICK is the difference between the number of green and red issues in NYSE. As such, it measures the breadth of NYSE, a broad index. Multiply the two. Focus on the low's. The trendline from years ago (left chart) predicts the recent market drop almost to the day (right chart)
Are you seeing harmonic TrendLines..?
Total Market ETF had closed week entering the "BearZone" for the 52w Price/Volume Pressure "Vortex" Average.
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.
Bearish MACD Crossover RSI Rolling Over Stochastic Topping Out CCI Charging Lower Break of the 2009 trend-line paints a clear picture. The market is going to head south in a big way in the not too distant future. A break of the ~10,400 or so line will confirm.
Broken Arrow - Ending Diagonal New York Composite looks similar to the SP500. Price action seems to had made the last wave up the 21th of may 2015 and thus done with the 5th of the 5 waves up since 2009 low. Yesterday's price action stopped at the lower trend line for the ending diagonal. We still need have confirmation - either by price action breaking the...
Will we breakthrough and above this resistance line that has been in place since last May or do we collapse? We all like to look at the S&P and Nasdaq and such but I also like to see what the NYSE has to say as well. So, will the 50 day MA finally push us through and above, any thoughts? I wish I could say I know but I will take a wait & see approach for now.
10 Month Volatility Compression against the Resistance Line is close to Resolution on the Upside Continuation of Uptrend, can be a High Probability Long as Huge Green potential Visible.
Several patterns are in play in NYA composite The last 6 month NYA has made several harmonic patterns as shown on the chart (See chart below). The latest is a 5-0 pattern and a ABCD in spe. That should bring a price target of 10120 Last week price created an island reversal For the time being I see price action has made a possible harmonic ABC move (not EW) with...
Friends, As just indicated in the analysis of Twitter (see it here, "All Targets Hit ... ": ), my predictive analysis and forecasting system defined a probable bullish target as: TG-1 = 10624.04 - 17 APR 2014. However, I also cautioned that a significant E.A.G.L.E range (10624.04/10584.23) is likely to impose its own resistance, up to a level that falls in...