Thursday, July 2nd. - Stock Trends, Charts, and Commentary
January 6th. was the day that the NYA Index moved up from its November low and made it to 6014.
That was an un-noticed, and important level that day. Now, 6 months later, it is apparent to many that this is an important resistance level.
We are now at the 4th. testing time for this 6014 level. From June 1st. to June 14th. the NYA Index did make it above that 6014 resistance, but the best it could do was to move sideways in a trading range before falling back below 6014 on June 15th.
It has been there since, and yesterday the NYA reached a high of 6009 before falling to 5954 at the close. So, we are now at the resistance line's 4th. touch point and test ... which reminds me to wish you all a Happy and Safe 4th. of July. (The markets are closed tomorrow, so we will see you again on Monday.)
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