Thursday, May 18, 2006

NYSE Group


Here is a daily chart of the NYSE Group, the corporation that controls the New York Stock Exchange.

The all time high of NYX was 90.35. I think the market is completing the third phase of a three phase drop from that level. I see support at 56 which is the 5/8 multiple of that high. I think NYX will trade above 100 before the bull market in the averages is complete.

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