• 757 days Will The ECB Continue To Hike Rates?
  • 757 days Forbes: Aramco Remains Largest Company In The Middle East
  • 759 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,159 days Could Crypto Overtake Traditional Investment?
  • 1,164 days Americans Still Quitting Jobs At Record Pace
  • 1,166 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,169 days Is The Dollar Too Strong?
  • 1,169 days Big Tech Disappoints Investors on Earnings Calls
  • 1,170 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,172 days China Is Quietly Trying To Distance Itself From Russia
  • 1,172 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,176 days Crypto Investors Won Big In 2021
  • 1,176 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,177 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,179 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,180 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,183 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,184 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,184 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,186 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Not Out of the Woods Yet...

Last Friday, we posted this NYA Index chart showing how it was on the cusp of breaking down into a correction.

It has been touch and go during the week as the index tested its 7471 and 7478 support levels. Wednesday was a reprieve when the index bounced up from the supports and closed higher.

But, the market is not "out of trouble" yet. Take a look at the blue arrows and see what has been happening. The closing highs have been moving lower since November 5th, and that has to change or the market will fall below support levels and go into correction.

So, we are not out of the woods yet, and investors should keep an eye on these important NYA index support levels next week.

NYA Index

 

Back to homepage

Leave a comment

Leave a comment