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This is Not What I Would Like to See ...

Today's chart shows the Accumulation levels on the NYA Index. Take a moment to really look at this chart.

Last October/November, the Accumulation levels trended up strongly, and then from February to June of this year it had choppy struggling action.

From June to now, the choppiness got worse as the Accumulation levels flipped back and forth into a down trend, and then to an up trend, and then to a down trend.

The blue vertical lines represent up trending, and the red vertical lines represent down trending. Notice the frequency over time of how the lines are getting closer and closer to each other. That is what I don't like to see as it represents higher volatility and a greater number of swings occurring.

What does it mean for the average investor? This kind of action means the likelihood for whipsawing is increasing, and I don't know many who know how to deal with a whipsawing environment.

NYA Accumulation/Distribution Chart

 

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