The NYSE Composite (NYA) is a stock market index covering all common stock listed on the New York Stock Exchange, including American depositary receipts, real estate investment trusts, tracking stocks, and foreign listings.
On 12/05/25 NYA did something amazing, it made a new all-time high unconfirmed by the following indices. S&P 500, Dow Jones Industrial Average, Nasdaq Composite, Nasdaq 100, Russel 2000, Dow Jones Transportation Average, Dow Jones Utility Average, and PHLX Semi-Conductor Index. Also, none of the Magnificent Seven stocks made new highs. The major Asian and European stock indices failed to make new highs.
NYA stands alone.
The daily NYA chart courtesy of Trading View illustrates its action.
The 12/05/25 high could also be the termination point of a Strat method – Expanding Wedge, which in this case it indicates an imminent move down.
Please note that the movement from the 09/23/25 peak to the 11/20/25 bottom could be a completed Elliott wave – Expanding Horizontal Triangle. If so a decisive move above the rising trendline implies more upside action.
Daily RSI has multiple bearish divergences indicating upside momentum is waning.
Also, NYA price bar for 12/05/25 closed below its opening price. When a price bar closes below its opening price, it signifies bearish sentiment for that period, meaning sellers overcame buyers.
The cumulative daily NYSE – Advance – Decline Issues ($NYAD) courtesy of StockCharts.com examines internal momentum.
The NYA cumulative A/D line peaked on 10/27/25 and had a bearish divergence vs. NYA price high on 12/05/25. Internal momentum confirms the potentially bearish price action.
Is NYA the leader of the next move higher? Or the last survivor of a now dead bull market?
We could soon have an answer.
Four Dimension Trading 