Loading ...NYA bubble popped
In jan of this year NYA bubble along with DOW and many markets popped.
Ever since NYA had not tested the previous high.
High RSI combined with high ADX is a warning that market will reverse course and risk is very high.
Thats what happen?????
Nice work Bikoo
Sure looks like the Topz Inn
Thanks. Learn lot at this forum.
How far back author’s posts are stored in archive? I was trying to find one of my 2016 post about PM market turn. It sis not go back that far.
My charts show PM just had the turn just like Feb 2016 bullish turn a week ago.
Not an expert here but it looks like the last intermediate(weekly) cycle bottomed at 11820.33 during the week of 29 October. The lowest we’ve gone since then is 11852.33 in week 5. So the weekly cycle hasn’t failed–yet, but I think if we go below 11,820 all bets are off. The other equity indices exhibit much the same characteristics.
Thought about this a bit more and am now thinking we are likely to break that October low of 11852.33 mentioned above. That would result in a few things happening: CB action towards re-flating the equity markets, an end to proposed future int.rate increases, the final nail in the coffin for the dollar, and the spark to send gold and commodities much higher. If this is correct, we’ll know soon because we’re already very close to breaking the previous cycle low and thus if should fail shortly.
grrr. The October low was 11,820.33, not 11,852.33
sorry, link to chart for above
http://schrts.co/XgCGWQ