AI
Saturday, December 03, 2011 11:19:22 AM
2 chart views for the NYSE Composite Index (NYA):
the NYA 60-minute is now consolidating above its 200-period sma shown in black on this chart
* the cluster of 3 dashed brown horizontal lines is the near-term bull/bear divider and once the NYA is able to place price action firmly above those price levels marked with the dashed brown horizontal lines in this tight cluster...
the bull-bear battle at the current price levels will likely be resolved for a period of time
*** Note - these 2 charts will update "live" with the current price action in the future when you refresh your browser ***
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chart #2 - monthly chart for the NYSE Composite Index
* notice the CCI-60 is above its -21.50 level, and this confirms the future bullish resolution is likely while this "above" status continues, if it does continue for weeks and months into the future
* you can see the $7495 upper brown horizontal selected from the 60-minute horizontal cluster has been placed as a dashed brown horizontal on this monthly chart
* future consolidation above the NYA $7311 price level will be constructive for a future bullish resolution ... a sustained breakdown back below the $7311 level is one important future achievement which will be required for a vigilant trader to actually switch to a confident bearish trading bias
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the NYA 60-minute is now consolidating above its 200-period sma shown in black on this chart
* the cluster of 3 dashed brown horizontal lines is the near-term bull/bear divider and once the NYA is able to place price action firmly above those price levels marked with the dashed brown horizontal lines in this tight cluster...
the bull-bear battle at the current price levels will likely be resolved for a period of time
*** Note - these 2 charts will update "live" with the current price action in the future when you refresh your browser ***
chart #2 - monthly chart for the NYSE Composite Index
* notice the CCI-60 is above its -21.50 level, and this confirms the future bullish resolution is likely while this "above" status continues, if it does continue for weeks and months into the future
* you can see the $7495 upper brown horizontal selected from the 60-minute horizontal cluster has been placed as a dashed brown horizontal on this monthly chart
* future consolidation above the NYA $7311 price level will be constructive for a future bullish resolution ... a sustained breakdown back below the $7311 level is one important future achievement which will be required for a vigilant trader to actually switch to a confident bearish trading bias
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