Wednesday, September 27, 2023

SPX and NYA: You Might Think

Not a whole lot to add to the past few updates, but a couple charts are worth looking at anyway, starting with NYA, which suggests new lows are still lurking out there, one way or another:

SPX is in a similar position:

In conclusion, the most likely resolution for these patterns is ultimately lower.  Which really isn't adding anything to the past few updates, but the charts "show the math," so to speak.  Be aware that this is potentially dangerous territory for bulls, as unless they can reclaim some key zones, an acceleration of the decline in the fairly near future is very possible.  Trade safe.

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