A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Wednesday’s action was a mirror image of Tuesday, except that the underlying technical indicators were stronger than the market averages on both days. The market still has to clear resistance and generate 13 week cycle buy signals to confirm that it is out of danger on the downside.
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On Monday, support held and projections were pulled up to levels that were reached, all of which suggested that an intermediate low had been reached. Tuesday’s late fade raises questions, which this report attempts to answer.
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The market reached major support on Friday and rebounded strongly yesterday to form what could be an intermediate bottom. Cycle projections rose to levels already reached and the market had entered a bottoming window in terms of time. Some indicators have flashed buy signals. But is that enough to call a bottom?
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The market update will be posted on Tuesday morning at approximately 8:40 AM ET (US- New York).
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The Treasury had a light calendar last week. The market faced a big Treasury settlement on Tuesday but from then until the big end of month settlement of new paper, supply pressure wasn’t, and won’t be, a problem. With fear driving waves of capital into the Treasuries, a downside breakout in yields, and an...
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The market has fallen to a major support convergence at 1295 and is in a bottoming window time wise. That window stretches across the next two weeks. If the 1295 level breaks, ugly could get uglier. Here’s how much.
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Several technical indicators have reached levels consistent with intermediate lows, but key support levels have been broken, and despite some signs of being oversold, the market remains vulnerable to further declines, both over the short run and the longer term as well. The market averages have broken down from an important top, and some...
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The market update will be posted Thursday morning at approximately 8:45 AM. Meanwhile check out The Conomy Game- The Legend of Bennie The Beard, Henry the Hitman, and the Gangbankster Dealers. Thanks for your support! See you tomorrow!
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Drip, drip, drip goes the market. This can go on for a while, as few indicators have reached any kind of extreme. Cycle projections have been hit on the 13 week and 6 month cycles, but short term projections still point a little lower. This report presents the targets, carved in butter.
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The market broke key support yesterday, but not by much. This morning it is attempting to regain that level. If successful, a 4 week cycle upturn could be under way, but the market would need to clear the 1355 area to have any room to run on the upside. If the market fails to...
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The composite liquidity indicator downticked last week on small declines in most of its components. We know that the downtick in the Fed’s pumping to Primary Dealers is temporary, but the weakening in other indicators may not be. Over the course of this latest surge, most of the cash has been targeted at the...
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The market update will be posted Tuesday morning at approximately 8:30 AM NY time.
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The market has a heavy feel, like it’s going to break down, but until it does, I have to reserve judgment. Downside projections are just below the recent lows, and the period of highest cyclical vulnerability ends Monday. But what comes after that isn’t low vulnerability, it’s still a period of higher than normal...
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The Treasury had a heavy calendar this week, but the new supply won’t settle until May 15. After Tuesday, Treasury supply will not pressure the market until the end of month settlement of notes and bonds. But the market has other problems and they are big ones. This 2 part report examines key forces...
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By the time the market closed on Thursday, even before Jamie The Demon got on the phone, the charts were sending little signals that things were about to get worse. Cycle alignments had said that the period of greatest vulnerability would last through next Monday. Now, suddenly we have a black and blue swan...
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The market continues to test support. A close below 1345 would break several major support levels and trend channels. Some traders may be benchmarking the March low of 1340. If this test holds, the trading range would remain intact. This suggests what is likely to happen next if it does hold, and if it...
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