The NYMO remains at record-setting multi-year elevated levels. It has nowhere to go except down. You want to start looking for a rally and nibbling on the long side in the stock market when the NYMO washes out below -40. You want to be looking for a pullback and shorting opportunity once the NYMO starts moving above +40.
The -111 reading was unbelievable and it led to a recovery move. The year began with the big 1/3/19 selloff in equities which jives with the NYMO tagging the +40 level but this is where things have gotten crazy. The world's central bankers must be afraid of something they see since they all are singing dovish songs over the last two weeks pumping global stock markets higher. The NYMO rocket launches higher to nearly 120 a multi-year high an outrageous number.
There is nowhere to go except down and stocks pull back a hair a few days ago but the central bankers keep jawboning happy dovish talk so stocks want to rally on the easy money promises. The NYMO jumps back up to 105 an extremely elevated number and the NYMO has been in this elevated range for a couple weeks. The NYMO is going to come back down to earth and when it does so does the stock market. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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