All Five Key Indexes Have to Re-test... See Today's Chart

By: Marty Chenard | Tue, Jan 21, 2014
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What didn't happen last Friday?

The answer, as seen on today's chart, is that all 5 key indexes were not able to move above their "end of December peak highs". They now have to re-test and get above those resistance levels in order to resume their up trending.

Note the first Index (on today's chart) which represents the "core holdings" held by Institutional Investors ... it has been moving in a sideways trading range since December 20th. So, it has not been able to trend higher since then and that could spell trouble. (See all 5 indexes on today's chart.).

Institutional Index, NYA Index, SPY Index, NDX Index and IWM Index

 


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Marty Chenard

Author: Marty Chenard

Marty Chenard
StockTiming.com
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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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