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Cycle Screening Data Approaches Criticality

Cycle screening data was stronger on Friday. 6 of the 9 measures strengthened. The aggregate measure inched higher at a very strong level while remaining in a pattern of negative divergence versus the new highs in the SPX. This puts us on notice that an intermediate top could develop at any time. The uptrend is on a day to day basis. However, if the strength persists for much longer, it would begin to support the idea that longer term cycles have turned back up. Here’s what to look for.

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