A Dangerous Place To Be?

By: Marty Chenard | Mon, May 3, 2010
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Today's chart is seen everyday by our paid subscribers (It is found in Section 4, Chart #3.)

A key aspect for this chart is whether or not it is above or below its support lines.

When this indicator is above the support line, the market is pretty resilient relative to more upside movements.

However, when the support line is broken to the downside, the market experiences a pull back or correction.

So, where is this indicator now?

It is slightly above a support line and testing it. This is a dangerous place to be, because if it falls below the support line, the market will eat the profits of those who are still long.

Support Indicator



Marty Chenard

Author: Marty Chenard

Marty Chenard
Asheville, NC 28805
Tel: 828-296-1200

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 was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker.

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