One Last Shot For The Fed?

By: Marty Chenard | Mon, Jan 27, 2014
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Friday was a scary down day for many and Market fear was in the air.

But the Fed may still have one shot to hold the market from a bad day today. That hope comes from the support line on the New York Stock Exchange Index (NYA).

Take a look at today's chart and you will see that the red support line is very close now. Even if the Fed has a win today, they will face an earnings gauntlet this week because ... This will be a Big earnings week with Apple today, and Amazon and Google on Thursday ... these earnings will be released after the close of those respective days.

NYA Index Daily Chart

 


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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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