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.

1 comment:

hortons768im said...

Hi Carl:

if you get a chance, could you go in a little more details about NYX in regards to there 3 phase drop. do you expect that the stock would rop as low as 56 to complete 3 phase drop before it goes above 100? thanks