Market Update

The V’s Have It

The market’s rally kept it in a V shaped rebound channel today. This report shows the levels it would need to break to end the meltup, and what the targets should be if it remains intact.

When In Doubt, Punt

The market finally pulled back on Wednesday. A review of ETF sector charts shows that many of them pulled back from resistance, which leaves doubt whether the rally was a reaction rally or the start of something bigger on the upside. There is some evidence that suggests what it is.

Panic! Locked Out!

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?

Saved By the V

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.