Entries in NYAD (9)
Just a look at the market
Friday, March 26, 2010 at 7:47AM Yesterday the market looked like it was going to begin it's Stage Two retrobooster burn to space after weaker then expected home sales came out(which I guess was good news) and Greece would be saved as a thank you for creating Diners in the United States. But then Whammy, the Tres Auctions were horrible, and Greece was told go screw and the market sold off at resistance levels. But the bulls didn't loose any ground.
SPX still has its uptrend intact, but the evidence is starting to mount up that maybe SPX is nearing its stalling speed. Stoch is overbought and MACD may be rolling over. If you look at SPX on a candle stick chart, yesterday's candle was a shooting star which can be seen as bearish.
NYAD once again remains above its three significant moving averages. Until there is bearish pressure to bring down NYAD the market still should advance or chop. Notice the past three rallies have ended when NYAD moved below its 8 day EMA. It sits on this line starting today, a down day would move it below the 8 day EMA.
One shinning star for the bears is that NYMO has dipped below zero which is a technical sell signal.
Are the bears wishing on an inverted shooting star
Wednesday, 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.
NYAD,
NYMO,
SPX in
Daily Charts,
Market Internals NYAD makes a new high
Tuesday, 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.
NYAD in
Market Internals 












