Collective IQ Traders Group

[opnion]

Gt I am trying to look and see if we have a big picture on the nyse or just a billfold size. g Think about this on this pnf chart for a moment and both bear watching in my view for a bullish and bearish outcome.
http://stockcharts.com/webcgi/Pnf.asp?S=$NYSI&Y=U&B=140&E=on&N=A&C=2


I think if the $nysi hits for any reason a 1260 level off of this run we are in now that we will break the june 2003 high and likely the next level that the $hysi tops out at will be in the 2100 area.

On the otherhand if on the next dip if -560 is hit then I think the $nysi goes down to take a peek at -1400 area.

Either one of these breaks will likely be very powerful. Of course as large as the triangle pattern on the pnf chart is on the $nysi it could trade between the lines until it narrows down to have to make a decisive move.