Right now SPX is looking hot she has made a nice move up, everyone in the world is wanting to play tonsil hockey with her.
But the smart guy at the bar see's she has sunglasses on will wait till she takes them off because she could look like this.
The first indication the markets recent move up could show a Sarah Jessica Park behind the sunglasses $NYHL. This indicator was mentioned last week. It was showing that the latest move up was being done as stocks were not making new 52week highs. This week SPX made another move to test it's highs but NYHL keep moving lower.
NYMO- Tuesday NYMO gave a sell signal, which I noted here. The key to this signal was if NYMO can stay below the zero line. The next day the market moved up and NYMO got above it, but since NYMO has moved below the zero line. Also note the steady decline in NYMO while the market has been rising, this is showing bearish divergence. If NYMO can continue it's decline it would so negative breadth in the market.
NYAD- After blasting off like a rocket ship, it has since settled down and based around a key moving average. At the same time, SPX has also based around the same moving average. The blue lines shows what the market does when both the NYAD and SPX break below the key moving averages.
If the market has a negative day and decliners take control the market, both should drop below the moving averages.
