Tip for Today

By: Marty Chenard | Wed, Feb 26, 2014
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Investors are always looking for new indicators about what the market is going to do next, but what about confirming a change of action to the downside?

Many old timers use a mix of indicators for that purpose and one of them is the number of new Daily Lows on the New York Stock Exchange (12 month basis).

Typically, conditions don't get into a trouble zone until the NYSE New Lows go above a level of 50.

As you can see on today's chart, even if you had a chart or model saying that the market was starting to turn down, you wouldn't have had any confirmation for that yesterday because the NYSE New Lows came in at 12 which was way below 50.

NYSE 12 Month New Lows



Marty Chenard

Author: Marty Chenard

Marty Chenard
Asheville, NC 28805
Tel: 828-296-1200

Marty Chenard is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools and stock market models. As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker.

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