NYA NYSE Composite Index Daily Chart Rising Wedge

NYA chart shows the negative divergence spank down in late February. Selling continued into mid March. Then a bounce up into a rising wedge now towards the February highs. If new highs are achieved, the indicators should maintain negative divergence, thus, any price high would not be viewed as a breakout. 20 MA under 50 MA is bearish.

Three red circles showing price highs in succession correspond to three lower numbers on the NYAD advance-decline chart. In other words, price moves up on the NYA but the corresponding advance-decline move shows less advancers, not more advancers, as would be expected if this was a bull rally with strength. Thus, it is not a rally with strength, the index selling should begin again.

Use this NYA chart in concert with the NYAD chart to compare the circled peaks and troughs.  This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.