NYAD- will be important to watch going forward. Since March the NYAD line has followed its 8 day EMA. Each market decline started after NYAD dipped below it, the last two big rallies were started after NYAD bounced off its 19EMA. Right now NYAD is sitting below its 19EMA and could bounce here. The last two most recent dips ended after NYAD bounced off its 19ema. All moves down since March ended on the 39ema.
NYMO- is showing a bearish market but it is also showing oversold. If NYMO moves above zero it be bullish and not confirm the down move. Instead NYMO needs to base under zero to confirm the recent move down. Since March is has managed to stay above -75 and each time provided some bouncing points for the market.
NYSI- is turning down and will be interesting to watch. It is nearing a level where it has bounced off of perviously. When NYSI moved below the 1250 level it managed to bounce and the market bounced with it. It broke its up trendline on Friday and may be signaling a further move down. It is dipped below its 39 day ema. Last time it did this was in June when the market started its decline. This is a longer-term indicator though can should be used for a longer-term trend analysis.
