Keeping an Eye on NYSI and S&P 500 Index

An Index that I'll be watching over the next couple of weeks is the NYSI (NYSE Summation Index) relative to its Stochastics. When the Stochastics cycle has peaked and crossed over on a Weekly timeframe, as shown on the chart below, and when NYSI reaches/approaches its weekly cycle high, this can be a signal that the S&P 500 Index is reversing or about to reverse.

For a live image of this chart, please click here.