Update on NYSE: Sep 8, 2015

In our July update on NYA, I drew a target at the white .886 Fib line — also the bottom of a channel (red, below) connecting the two previous lows — and pronounced it do or die time for the index.

2015-07-15 NYA daily 1220As it turns out, NYA had no trouble reaching that target.  It also had no trouble reaching the 1.272 extension down at 9513.  So, bottom line, it “died.”

Is it beyond resurrection?  And, what does it tell us about the broader markets and whether the downside is over?

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