Thursday, June 3, 2010

NYA a different look

If you follow my work, I usually only post S&P 500 but I do watch other indexes especially if I'm questioning a trend channel or some formation on the S&P. Currently I think the market is a little more readable with NYA than the S&P 500. Looks like were in a bearish wedge with the trend channel (bearish) in question shortly if we continue the up momentum over the last 2 days. I would prefer to hold cash than to try to get little gains while the market bounces around this wedge.

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