Tuesday, August 21, 2012

The NYSE Composite Is The One True Stock Index

Are markets fractal as hell or what?

The daily chart of the NYSE Composite is a carbon copy of the monthly chart of the NYSE Composite. They're both painting the same extremely bearish picture: a devastating "c" of "(c)" wave move much, much lower.

And one more thing: the broad NYSE Composite reflects the true trend of the market in a way that the Fed pumped SPX, NDX and DJIA stock index futures markets absolutely do not.