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Marty Chenard

Marty Chenard

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…

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Only One of these 5 Indexes is Still Above its Support Line ...

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.

Index of Core Holdings, NYA, SPY, NDX and IWM Charts

 

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