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.
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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