Aggregated cycle data did not confirm the uptick in the market averages today.
Most short to intermediate indicators are holding a slight edge to the buy side.
Actual, not seasonally adjusted real durable goods orders rose 12.1% in March from February. March is typically the strongest month of the year. The current number represents below average performance. The 10 year average gain for March was 14.4% from 2003 to 2013. These are inflation adjusted numbers representing actual order volume, not nominal sales. The…
If gold does not recover above broken support at 1277, then the 13 week cycle projection is a viable target.
The advance number of actual initial claims under state programs, unadjusted, totaled 297,870 in the week ending April 19, a decrease of 20,923 (or -6.6 percent) from the previous week. There were 326,264 initial claims in the comparable week in 2013. – DoL Compared to the comparable week last year claims declined 8.6%, consistent with recent…
Yesterday I reported that the positions of the cycles indicated by the screening measures suggested that the market was ready for a breather. Today it started. But it was only enough to inject a touch of ambiguity, not enough to signal a correction. As long as these measures stay positive, I must give the uptrend…
There were no significant changes in the technical indicators today. There are projections on only the 4 and 8 week cycles.
Gold continues to hover at a support level, with a 13 week cycle projection well below current levels.
Screens of the cycle indicators on 583 stocks, ETFs and market averages strengthened along with the averages today.
Cycle and momentum indicators are strengthening modestly as the market inches toward a full test of the high. This could be the beginning of a 6 month cycle up phase. A couple of things would need to happen.