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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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The NYA Index is in a Triangular Pattern ... Very Close to a Breakout

A money battle is going on as Inflowing Liquidity levels are trying to keep the market up and Institutional Investors are resisting by staying in low Distribution and not taking Inflowing Liquidity's direction yet.

This should be a volatile week with higher than normal risk levels.

Below, we posted the recent tick action of the NYA Index (NYSE). Note that it is going through a triangular pattern which means that the NYA will make lower tops and higher bottoms until the Index breaks out in a direction.

A breakout typically occurs about two thirds into the length of the triangle, so we are very close to a breakout.

NYSE Chart

 

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