Wednesday, January 18, 2023

SPX and NYA Updates

Not much has happened since the last update and the long weekend.  NYA, as noted Friday, did break its prior high:

(note:  Typo in 1/18 annotation -- 16358 (12/5 update) is the correct target)

NYA's break does at least weakly suggest that perhaps SPX will ultimately do the same:

In conclusion, all of this was worked out a month and a half ago, and the market has finally done what it was expected to do -- so now it's just a matter of how it handles this current inflection.  So far, no signs that bears have jumped back in.  Trade safe.

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