Medium term, Institutional activity is showing an up trend in
Accumulation.
Take a look at the 1 through 5 labels on today's chart. What
can you observe about the pattern of the labels?
If you answered that they are in an up trend, you are correct. (An
up trend is defined as a condition where higher/highs and higher/lows are made.)
Now, let's look at the shorter term... the period in between
labels 4 and 5. What can you observe about what is happening here?
If you answered that "Institutions are in Accumulation,
BUT their level Accumulation is declining", you would be correct
again.
So, even though the medium term trend is up, the shorter term
is showing a duress condition for the market because Institutions are decreasing
their Accumulation levels.
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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