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:
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.
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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