Today we will analyze the index NYSE COMPOSITE INDEX USA (NYA) for internet stock trading in the INDICES stock market,
Stock Technical indicators to notice in NYSE COMPOSITE INDEX USA (NYA)
1- Last bullish trend was from 7,841.91 $ (4/10/2012) to 8,164.04 $ (5/1/2012) a 322.13 $ move 2- The current bearish trend started from 8,164.04 $ at 5/1/2012 and is currently trading at 7,820.25 $.
3- NYA current support level is at 7,754.29 which is the 127.20 % fibonacci retracement of the last 322.13 $ move.
4- NYA current resistance level is at 7,841.91 which is the 100.00 % fibonacci retracement of the last 322.13 $ move.
5- According to ADX Indicator, the trend is currently bearish, which is getting stronger.
NYSE COMPOSITE INDEX USA (NYA) Short term stock chart patterns for internet stock trading :

6- The Index was resisted by a resistance line, identified by two points: 8,164.040 and 8,297.470, and is currently resisting at 8,137.354.
NYSE COMPOSITE INDEX USA (NYA) Mid term stock chart patterns for internet stock trading :

7- The Index traded in a bullish stock channel identifed by support at 6,898.180 and 6,571.450,resistance between 7,813.990 and 7,528.390 which was broken down at 7,820.250 in higher than usual volume.
NYSE COMPOSITE INDEX USA (NYA) Long term stock chart patterns for internet stock trading :

8- The Index traded in a bullish stock channel identifed by support at 6,898.180 and 6,571.450,resistance between 7,813.990 and 7,528.390 which was broken down at 7,820.250 in higher than usual volume.

Stock Trading Conclusion:
NYSE COMPOSITE INDEX USA (NYA) was trading in a bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading .

Stock Resistance Levels : 7,841.91, 7,869.77, 7,901.38, 7,951.58, 7,964.96, 7,992.15, 8,002.98, 8,032.71, 8,040.99, 8,088.02, 8,137.35, 8,164.04,.
Stock Support levels : 7,754.29,.