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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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Monday Update

As of last Friday's close, the trend had not yet shifted to a down trend yet as seen in the chart below that shows 5 key indexes. (Struggling yes, but down trending no.)

The Institutional Index, the SPY, and the NDX./QQQ, and IWM were above their  thick black horizontal support lines.

The NYA was below its thick black horizontal resistance line.

The reality is that the IWM (the  ETF for the Russell 2000) had its relative strength at a negative level, so it is at a Danger level where the ETF could change to the downside quickly, especially after the Presidential election.

Institutional Index of Core Holdings

 

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