The NYMO, McClellan Oscillator, is back up in the red zone above 92. The red circles show stock market tops and the green circle shows the March bottom. What do you think will happen going forward? The collapses from rising wedges, as shown on the NYA, the NYSE Composite Index, chart, can be quite dramatic.
Remember to keep watching the NYA 40-week MA cross one of Keystone's key intermediate and long-term market signals. The 40-week is at 12624 with price at 12302 using the 200-wk MA at 12242 as support. This is high drama. If the NYA pokes above 12624, the bulls will have a big party with stocks headed to record highs. If NYA stalls here, and is unable to attain 12624, look out below. Equities will likely collapse down the rabbit hole going forward for the remainder of the year. 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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