This Is Where The Market Got Into Trouble Last April ...

By: Marty Chenard | Tue, Nov 23, 2010
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The next week or two could be an important test for the markets.

Why? Because the same pattern could be developing that preceded the May drop.

Here is the comparison:

C-RSI Analysis

The chart below shows the above conditions. Note: the C-RSI is a daily 30-Relative Strength reading minus 50 so that it has a zero-base for ease of reading.

*** Observe the similarities between the end of April, compared to yesterday on the New York Stock Exchange as seen below. There is no guarantee that the pattern will repeat, but the current indicator movements do suggest that keeping a watchful eye on the pattern would be a very good idea.

C-RSI Chart

 


 

Marty Chenard

Author: Marty Chenard

Marty Chenard
StockTiming.com
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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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