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Entries in NYAD (6)

Wednesday
03Mar2010

Are the bears wishing on an inverted shooting star

DateWednesday, March 3, 2010 at 7:49AM

 

Yesterday SPX was rejected at the upper level of a resistance zone.  Yesterday's inverted shooting star candle shows that the bull had control through out the day but before the close the bears increased the selling pressure and moved the market down.

Right now that is the only thing bearish about this market.  Internals still are climbing.  NYAD made another new high and the NYMO divergence was broken yesterday.

But one cavet to the bulls argument is NYMO is not in overbought territory and well as SPX Stoch.  Watch for a pull back to 1100 for the next move in the market.

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Tuesday
02Mar2010

NYAD makes a new high

DateTuesday, March 2, 2010 at 6:51AM

NYAD has begun to lead price action.  Yesterday it made a new high, so while there is is some bearish divergence in the market (see post below) the internals support further upside. In fact if the pervious pattern plays out the market could be in for another 3 months of upward movements.  Notice how each time NYAD dipped below it's 39ema and back up it has advanced for about four months.  Another strong up day could destory the divergences we are seeing and help move the market up.

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Monday
08Feb2010

Who dat charts

DateMonday, February 8, 2010 at 8:32AM

SPX:SPX Hourly: Oversold on this time frame but still in a strong downtrendNYAD- still looks bearish, the 8 ema now looks like it will cross the 39.  NYAD was still red on Friday and did not reverse with the market. 

NYSI- Broke its prior support at this level, may trend down more.  NYSI is getting closer to zero which would be very bearish for market.  Notice how accurate the BB% moving average cross indication has been.  The green line shows the last signal it gave which was prior to this drop.

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Thursday
04Feb2010

Charts

DateThursday, February 4, 2010 at 7:11AM

NYAD below key moving averages]

SPX: Comments on chart

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Monday
01Feb2010

NYAD

DateMonday, February 1, 2010 at 2:48PM

UPDATE:  NYAD does not get above its 39 EMA

 

 

NYAD is showing some signs of weakness.  It has now dipped blow it's 39 EMA.  The 8 and 19 were key support levels for NYAD and the market but have failed to hold during this drop.  The 39 has also failed to hold and the 8 and 39 have EMA's have crossed.  With today up, NYAD might test the 39 EMA again but if the bulls cannot move NYAD past its moving averages more downside may be in store

NYAD

 Here is a chart of the 2007 NYAD line, notice anything similar?  One thing to watch going foward is will the 8 or 19 EMA hold as resistance.  If they do this would be bearish for the market.  During the rally from March these moving averages were broken easily. 

If the market continues to weaken NYAD will show it.  NYAD showed that the rally had strength behind it, but now it is showing that there is selling behind it.

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