As today's chart shows, there is only one index that is still above its support
line (the NDX). As today's chart shows, the Institutional Index, the NYA Index,
the SPY, and the IWM were all below their support lines.
This is a high risk condition where the options market currently thinks that
that can start to initiate some basing activity in order to halt downside movement.
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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