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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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Watch the NYA Index's Resistance

During this past week, the NYA Index made no progress and essentially moved sideways for a week.

What is concerning are the thick red lines on the chart below because there is a negative divergence coming from the MACD for the same periods of time. When looking at the chart below, also note that there is a gap to close at 10561.79.

The 10561.79 is a resistance level to keep an eye on.

NYSE Chart

 

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