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NYSE Index: The Battle of the 50 DMA?
February 29 2016 ( From TradingView )

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The Situation

Since the peak made on May 21 2015 at 11254.87 on the
NYSE Composite Index, we are into a lower highs and lower
lows technical pattern in a multiple down steps...

But we made a double bottom technical pattern ( January 20 2016
and February 11 2016 to painfully climb into a rising wedge.
( See 1rst Chart Below - Grey and Red Trendlines )

We are at crossroads for Bulls as we are testing the Major
Resistance Trendline that started back since August 24 2015 low.
( See 1rst Chart Below - Red Trendline - Ellipse ).

Also at the same time, we are testing the 50 DMA ( Day Moving Average ) on the NYSE Composite Index ( at 9633 as of February 26 close ). ( See 1rst Chart Below - Red Line - Ellipse ).

And looking at a bigger picture on a Weekly Chart, few of us realize that the Mighty NYSE Composite
Index compare SP500 Index ( so on a ratio basis ), that in fact we reached levels last seen in November 2000.
( See second chart below, Amber Trendline - Ellipses )

NYSE Index: The Battle of the 50 DMA? $SPY, $NYA #Trading #investing #NYSE #SP500

NYSE Composite Index
20 DMA ( Yellow Line )
50 DMA ( Red Line )
200 DMA ( Green Line )

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RATIO
NYSE Composite Index
over
SP500 Index