NYA update: lagging the other indices and flattened weekly bollinger bands similar to 2011 setup

As all market pundits know, the NYA is lagging the other major indices in failing to make new ATHs. Instead what we see is a somewhat broadening top, but most obvious on the weekly time-frame are the negative divergences and flat bollinger bands. If history can be of any guide in a QE driven market, then the only time the NYA had a similar set up was in the summer of 2011 (see figure below; click to enlarge).

nyse 12062014a

If we zoom into these two time frames (see figure below; click to enlarge) highlighted by the orange boxes, and compare the price pattern leading into the box in 2011 with that in 2014 then we see a similar patterns: fractals. Could we expect a similar outcome then?

nyse 12062014b

Hard to say, but the preferred count (see below; click to enlarge) seems to suggest so.

nyse 12062014c

 

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5 thoughts on “NYA update: lagging the other indices and flattened weekly bollinger bands similar to 2011 setup

  1. Pingback: NYSE update: downside continues, price near 62% retracement of prior up trend. | Intelligent Investing

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