NYA NYSE Composite Weekly Chart 40-Week MA Cross

A watershed event occurred minutes ago.  NYA price stabbed down thru the 40-week MA. Price has recovered for now but a sea change in markets may now kick into gear.  The 40-week MA represents the line in the sand between secular bull and secular bear markets.  Note the August waterfall crash, then on 1/18/12 (reference the Secular Turn page on this site), the bulls thru confetti as the NYA moved above the 40-week MA signaling a return of the secular bull. Now the bears may have a turn at the wheel.  Watch the NYA 40-week MA like a hawk moving forward. NYA falling thru the 40-week MA is also a piece of the puzzle that tells Chairman Bernanke that QE3 must be announced. As of this writing at 3:33 PM EST, the LOD is 7621.64 and the NYA is now printing 7633.06.  The 40-week MA is 7627.59.