Cycle screening measures were stronger than the market averages for a change from the recent pattern. I have to wonder if this is a sign of real strength or another indication of the problem we’ve been having with these indicators lately.
The breather the market took today left an ambiguous picture. Most short term and 13 week cycle indicators have turned up. 6 month and 10-12 month cycle indicators are still pointing down.
I saw the great numbers on Industrial Production (IP) the other day and wondered what the heck is going on. So much of the data that I watch and write about here shows the US economy and most Americans doing poorly. Retail sales per capita are horrible. Housing is a mess. Joblessness and underemployment are rampant.…
Behind the initial claims headline number, the real story was a bit different (nothing new about that). Bloomberg was frothing at the mouth with this headline… … while amazingly failing to note that that was the year the economy began to collapse from the weight of the massive credit and housing bubbles that preceded. Today, in…
The 13 week cycle projection range has narrowed. It remains below the recent range.
Cycle screens are on the cusp of a big signal.
Breakdowns are just so passé any more. Last week’s horrible looking break of an “obvious” top pattern was, as feared, just another stupid pet trick by the Primary Dealers to shake loose the low hanging fruit.
The mainstream media dutifully reported a 2.8% gain in the headline seasonally adjusted number for housing starts. It was just another example of how misleading seasonally adjusted data can be. On a year to year basis, actual total starts are down from 83,300 in March 2013, to 79,100 last month. That’s a drop of 5%.…
Gold has held at critical support this morning, but it’s too early to declare victory.
Screening measures started to catch up with the gains in prices of the past couple of days in what looks like an ordinary rebound from an oversold level on the aggregate indicator, but not on the individual indicators.