NYA loses the critically important 40-week MA at 15138 which places the US stock market back into a cyclical bear pattern. It's All Over Now, Baby Blue. The vagabond is knocking at your door.
However, just like when price popped above the 40, caution was warranted since it may not stick. It did not. Same-o now. Give it a few days or week or two to see if NYA remains below 15138. If so, there will be lots of downside pain ahead for 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.
Note Added Sunday, 5/28/23: Despite the euphoric AI orgy rally on Friday, the NYA was unable to move back above the 40-wk MA at 15139. Price rallied to 15119 on Friday then fell on its sword. If you are bullish and chasing the rally, you better hope that NYA moves above 15139, otherwise, you will lose your shirt.
Note Added Friday, 6/2/23, at 6:05 AM EST: The NYA comes back up to 15031 with a HOD yesterday at 15070 within striking distance of the 40-wk MA at 15139. NYA fell through the critical 40-wk MA last week so price may be performing a back kiss now to make sure it wants to go down (bounce or die decision at 15139). If price goes up to 15139 and fails, Katy bar the door since there will be very bad stuff beginning for the stock market. Bulls may be able to usher-in a couple more weeks or so of buoyancy in stocks if NYA pops above 15139. US Monthly Jobs Report drops in a couple hours.
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