Cycle screening numbers continued their surge on Friday, with the aggregate indicator reaching its highest level since October 2013.
The market returned to test the highs. Short term cycles are on the buy side and the 13 week cycle would resynchronize from last week’s low if the market takes out the highs. That would tend to validate new cycle projections for higher levels on the S&P. This report discusses the new targets and what…
The last two times the screening measures had a one day jump of this magnitude the market launched sustained intermediate upswings, in each case gaining over 250 points within the space of 2 to 5 months. Here are the particulars, along with the reason I’m not ready to jump on the bandwagon.
The market is scurrying around like a bunch of crazed rats fed a dose of crystal meth. The hints that an intermediate bottom was forming that started showing up earlier in the week in no way foreshadowed a turn that would come so quickly and ferociously. It’s a symptom of just how thin this market…
The numbers indicated thrust off a probable short term low, but there were question marks. Here are the signs that should tell whether this is likely to be a sustainable rally or not.
Today’s rally hinted that something important happened. But hints can be misleading.
Cycle screening measures were slightly weaker overall, with new signals mixed and current status indications mostly weaker. The aggregate measure got more oversold but remains just above the October low. Here’s what that suggests about this decline.
It’s not just the fact that the early rally reversed so decisively. New cycle projections point much lower, and clear support on the charts is even lower than that. Here are the particulars, including the current targets, and the number the market needs to beat to signal an upside reversal.
Growing weakness in 6 month cycle measures has now confirmed an early downturn in that cycle. Here’s what that portends.
The market has had 4 prior meltdowns in the past year that started ugly. This one is uglier. Here’s what to look for.