Ribbon Charts Are Often Very Helpful
Last week, we showed a Ribbon Chart for the NYA Index (NYSE Index). As seen in Chart 1 (posted last week), it was up trending last Tuesday. What happened since then, and is there a Breakout Indicator for this chart? Please see Chart 2 ....
Chart 2: This is the same chart as above, except is was updated as of 10:28 AM this morning. Another feature of this chart is the Breakout Direction Indicator for when the Ribbon chart show's convergence. This chart is pretty self explanatory, so I won't go into a bunch of details. Since a picture is worth a thousand words, chart pictures can also be worth a thousand words.