Did it Really Fail 3 Times?
Three times it tried ... Yes, the NYA Index tried to move and stay above its 11108.39 resistance, but it failed to do so three times.
For normal investors, this is high danger sign that suggests moving cautiously is prudent.
Take a look at the current NYA Index chart below and you will see that yesterday's tick was back inside its first triangular pattern and still below the 11108.39 level.
This depicts a struggling market that is pausing and considering its next direction.