Note the support and resistance lines that show a symmetrical triangle formation. And then note how the NYA Index broke above it with a one day close above the 11108.39 resistance line. It has since pulled back on the short term.

What you should look for now: Look for the NYA Index to hold the upper triangle's support line now on any further pullback action.

If the NYA Index can survive that test and rise back above the 11108.39 resistance, then we should see more up action in the coming days. For now, this is a testing area where something more important will be decided.

NYA Index Chart

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By Marty Chenard
http://www.stocktiming.com/

Please Note: We do not issue Buy or Sell timing recommendations on these Free daily update pages . I hope you understand, that in fairness, our Buy/Sell recommendations and advanced market Models are only available to our paid subscribers on a password required basis. Membership information

Marty Chenard is the Author and Teacher of two Seminar Courses on "Advanced Technical Analysis Investing", Mr. Chenard has been investing for over 30 years. In 2001 when the NASDAQ dropped 24.5%, his personal investment performance for the year was a gain of 57.428%. He is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools. As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker.

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