[NYA] Is No One Tracking This or What?... Double Top Crescendo!I just discovered this.
Seems quite meaningful.
Failed H&S breakout?
Enjoy! B)
Nyad
Grinding higherSPY closed up 0.57% yesterday.
Beating small caps and tech mega caps indices for a change.
Stimulus talk appears positive for the market. Buy the rumor.
Coronavirus count increase a negative. But each day brings vaccine availability closer.
ES futes treading water, up +4.5 handles as of now.
Mom Squeeze indicator remains pointing higher.
NY advance-decline makes another new hi.
Usually points SPY higher.
Bifurcated marketsSPY lost -0.6% on Thursday.
DJIA lost 1.4%. And IWM lost -2%.
But Nasdaq gained +0.5% on the heels of tech heavy institutional darlings.
Earlier in the day SPY had lost -60 handles, but recouped some losses by day's end.
Today's overall weakness is shown by declining issues over advancing issues by a 3:1 margin at the NYSE and a 2:1 margin at the Nasdaq.
ES futures are red by -10.25 handles as of now.
NY Advance/Decline issues are sloping down and just perched above 50% level.
Nasdaq and NY Mcmillan oscillators RSI's are below 50% suggesting declining markets ahead.
But still the broad 300-320 range holds on SPY.
Only a trader's market at present.
