Lee Adler

Magnificent Market Meltup Cakewalk

The magnificent market meltup marched on. The target could be the uptrend line forming the upper line of a broadening pattern at 2040, or it could be the 6-7 and 8 week cycle projections or the 13 week cycle projection that is even higher. Here’s what the data suggests now.

GDP- Surprise, Surprise, Surprise…Not

Federal Withholding Taxes Growth- Click to enlarget

The advance number for third quarter GDP came in at 3.5%, surprising the Wall Street conomists, whose consensus guesspectation was 3%. It should not have been a “surprise.” The US Treasury reports tax collection data virtually in real time, every day. I publish a chart of the withholding tax data and report the implications of that data for the markets every…

Gold Plunges, Sets New Targets

Gold broke down from the small head and shoulders pattern and hit the 4 week cycle projection, but support and a measured move target remain below this morning’s low. This report covers the benchmarks to look out for before a turn is likely.

These Indications Say A Pullback Is Coming

The slight pullback today caused several cycle screening measures to form patterns that normally indicate that a short term pullback or consolidation is imminent. However, the patterns continue to look like those of October 2013. This report considers these factors and gives the outlook.