Update on NYA: Aug 31, 2015

We pointed out on July 16 that it was do or die time for NYA.  It had backtested a trend line connecting a string of lows that was 7 months long — as well as the SMA100.  We forecast a drop to 10387 by early August and 10,042 by mid-August.

We were right on the direction and the timing, but underestimated the extent of the initial drop.  Rather than find support at 10,042 — the potential neckline for a huge H&S Pattern — NYA plunged right through.

2015-08-31-NYA daily CU 1300The drop to the white 1.272 at 9,513 surprised many investors, but was in keeping with our analog.

continued for members


lock

Sorry, this content is for members only.

Click here to get access.

 

Already a member? Login below

Email
Password
 
Remember me (for 2 weeks)

Forgot Password