ajtj99's Market Pulse

[ajtj99]

LG, I think we can look at the NYA weekly chart for some clues as to what we could expect.

In 2004 through 2006 I see four lows that had staying power. All had a common ingredient - they either tagged the 50-EMA on the weekly, the lower Bollinger Band, or both.

http://stockcharts.com/h-sc/ui?s=$NYA&p=W&b=5&g=0&id=p12261135205

The interim lows tended to hug the middle bollinger band on the weekly on a closing basis. 3-weeks of up, 4-maximum, then a resumption of the downtrend.

We need to hang up a bit yet for op-ex, but this sure looks like it's preparing the next leg down soon.