Nyse Composite (NYA.US)

Short term

Nyse Composite has broken the ceiling of the falling trend in the short term, which indicates a slower initial falling rate. The index has broken up through resistance at points 19240. This predicts a further rise. The short term momentum of the index is strongly negative, with RSI below 30. This indicates increasing pessimism among investors and further decline for Nyse Composite. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The index is overall assessed as technically positive for the short term.

Recommendation one to six weeks: Positive (Score: 54)

Medium term

Nyse Composite shows strong development within a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The index has support at points 18300 and resistance at points 20300. The short term momentum of the index is strongly negative, with RSI below 30. This indicates increasing pessimism among investors and further decline for Nyse Composite. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The index is overall assessed as technically positive for the medium long term.

Recommendation one to six months: Positive (Score: 60)

Long term

Nyse Composite shows strong development within a rising trend channel in the long term. This signals increasing optimism among investors and indicates continued rise. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 16667. The objective at 18466 is now met, but the formation still gives a signal in the same direction. The index is approacing resistance at 20200 points, which may give a negative reaction. However, a break upwards through 20200 points will be a positive signal. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the rising trend and could be an early signal of a coming trend break. The index is overall assessed as technically neutral for the long term.

Recommendation one to six quarters: Hold (Score: 13)