The stock market now has set up parameters between which it will have all the suspense of an Alfred Hitchcock thriller. You know how those things end. Somebody gets killed.
Cycle screening measures screamed higher along with the market averages. The market is so thin and the move so strong will it even provide the luxury of allowing anyone in on a pullback or will bulls who have been frozen out, panic, driving the market up even faster?
The V shaped rebound actually accelerated today. The SPX cleared would-be lines of resistance with no pause whatsoever. What does that say about where the market might be headed?
Cycle screening measures surged on Monday. It was the 5th straight day of improvement in a string that began slightly before the market averages reversed. The aggregate measure broke its downtrend and surged into positive territory.
The V shaped rebound continued today, with the SPX clearing the crash channel that had contained it for more than a week forestalling a breakdown of critical long term lines on both price and momentum.
Cycle screening measures have confirmed the short term upturn at which they had hinted for a few days before. But what about the intermediate outlook?
While there are indications that a short term low is complete, it won’t be all clear sailing ahead. Here’s why.
Cycle screening measures improved today for the third straight day.
Most cycle projections have been met. Have the risks been mitigated?
Cycle screening measures hinted at a short term bottom in spite of the near bloodbath in the market averages. This report explains why.