Are Stocks Ready to Run? | Bruce Fraser (04.28)
Power Charting with Bruce Fraser • 26m
The NYSE Composite Index ($NYA) has been in a well defined secular uptrend for almost 50 years. This upward trend is studied. Currently the $NYA is marginally below the trendline that has defined this very long advance. Thus the NYSE Composite has the potential to fall down and out of this all important trend. Thus, it can be said that the $NYA is on the ‘Knife’s’ Edge.
Could the index hold at this trendline and rally, as it has so many times before? Zooming in to a study of the current price structures of the S&P 500 and the NASDAQ 100 the question is considered of whether they are poised to rally from current levels. Also two seasonality studies are consulted for the likelihood of higher stock indexes in the second calendar quarter.
Link for more information on the BEST OF WYCKOFF 2023 UNCONFERENCE:
https://www.wyckoffanalytics.com/event/best-of-wyckoff-2023-unconference/
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Website: https://wyckoffanalytics.com
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