A Week Later and Conditions Look Worse
Last week we posted our 5 Index chart. At that time, we commented that ALL the indexes were below their recent highs.
Here we are a week later and conditions look worse, not better. Once again, ALL the indexes were below their recent highs at the close yesterday.
If you focus on the NYA Index, the support to hold this morning is at 10669.40, and after that the Index needs to hold 10557.61. 10557.61 is a crucial level in avoiding a lower/low which would have long term negative implications.