Keystone's NYA 40-Week MA Cross Indicator Turns Bullish

The short-covering rally in the final minutes of trading yesterday launched the NYA above the 40-week MA at 7660, one of Keystone's key cyclical market indicators. The closing print is only three points above but above nonetheless signaling that the market bulls have regained control of the markets. Since the move above occurred in the final minutes, with a short-covering rally, that does not exactly provide a lot of street cred for the bullish move.  So watch this chart closely after the Monday bell rings. If the NYA stays above 7660 all day Monday, that will provide the bulls strong street cred and rest assurred, the broad indexes will move far higher. The market bears must spank price back under 7660 as soon as the Monday bell rings and stop this upside momo, if not, the bullish bus will run over the bears moving forward. Note the sideways vibe of the chart with the critical 40-week MA serving as a centerline. 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.