As the market’s trading range narrows, a breakout draws closer. But which way?
Cycle screening measures were mostly weaker on Monday, either because they are too slow to catch up with the market’s whipsaws, or sending a warning that the rally isn’t supported. Which is it?
Another miracle stick save on the heels of a minor selloff has kept the market on track for a 13 week cycle up phase, but it’s not clear how strong it will be.
Cycle screening data was materially weaker across the board on Friday, dropping all 9 measures to the sell side on balance. The aggregate measure went deeply negative but stopped at the trendline of rising lows. Here’s what it means. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition…
The decline this week did not quite break the long term trendline from the 2009 low, but it’s sitting right there.
Cycle screening measures were slightly weaker on Thursday, but not enough to tilt the overall levels and patterns to the bearish side.
The market continued its assault on resistance. Resistance won the skirmish, but not the war.
Cycle screening measures were slightly stronger on Wednesday. They supported the move in the market averages, which was just as hesitant.
The market pushed against resistance at 2110 today and resistance pushed back. But it ain’t over till it’s over.
Cycle screening measures were slightly weaker on Tuesday in spite of the gain in the averages. However, both the aggregate measure and all new signal component measures retained a modest buy side bias.