I recently have been trying to use the SPX chart to find patterns the are repeatable, and constantly I find my trendlines don't fit quite right, don't exactly repeat. Log/Lin always led to uncertainty.
Then I found NYA...
NYA doesn't seem to lie, being as it is an aggregate not a selection this makes sense, there should be little variation due to composition/manipulation, with the exception of that which the market forces (bankruptcy/mergers/financing) and in sufficient quantity to ensure regularity of the data.
If you are trying to find something big, you might find it on NYA, and be able to confirm it better than a performance/sector oriented index chart. Trends that affect the whole market might be found here, we shall see, perhaps I will find something here worthy of an update in the future.
Also, I drew a fib circle and a fork for interest sake, they fit pretty well, I think, not an expert at either and obviously you may interpret this as you see fit.
Happy Hunting!
{PA}
Then I found NYA...
NYA doesn't seem to lie, being as it is an aggregate not a selection this makes sense, there should be little variation due to composition/manipulation, with the exception of that which the market forces (bankruptcy/mergers/financing) and in sufficient quantity to ensure regularity of the data.
If you are trying to find something big, you might find it on NYA, and be able to confirm it better than a performance/sector oriented index chart. Trends that affect the whole market might be found here, we shall see, perhaps I will find something here worthy of an update in the future.
Also, I drew a fib circle and a fork for interest sake, they fit pretty well, I think, not an expert at either and obviously you may interpret this as you see fit.
Happy Hunting!
{PA}
Maybe it's something, maybe it's nothing, no way to know what side of the lines we are on, just watching for the trend to let me know.