Today's chart shows the Accumulation/Distribution trending on the NYA Index
(the NYSE). If you look at the chart's highs and lows, you will see its trending.
For the current status ... Start at the highest point in May and note the
lower highs that have occurred since then. Now observe the lower lows since
May.
That describes down trending which is a negative for the market. Short term
(since the end of June), the ticks have been showing a smaller technical up
trend, so we have a short term positive bias.
This is a high risk condition at this time ... one that will need a higher/high
to be made in order to change the down trending.
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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