Cycle screening measures marched in place in positive territory during the week that I was away. Short term measures corrected while the longer measures remained very strong. The market averages marked time while this process was under way. Any follow through on the modest strengthening in these numbers today could be a sign of a…
The SPX has edged through the upper line of another broadening megaphone pattern. Here’s what that means.
With little change in the market, there was no reason to change the outlook.
While the market trades quietly in a range, the weight of the evidence points to an upside breakout. This report covers the likely targets, and what it would take to change the outlook.
With the market trading quietly in a narrow range for the past 3 days, there has been little change in the cycle outlook. Short term cycles appear to be in down phases where the indicators correct but prices don’t. Here’s what that probably means in terms of where to expect the market to top out,…
Short term indicators continue to indicate that the 4 week and 6-7 week cycles remain in down phases. But where’s the correction?
Short term indicators suggest more consolidation or a minor pullback over the next few weeks, but intermediate indicators remain strong.
The market continues to inch higher, barely staying within the latest short term uptrend channels, but just as importantly, not breaking them.
Cycle screening measures had a slight edge to the buy side on Friday. Short term measures have weakened, creating a negative divergence between the aggregate measures and the market averages.
Additional signs of short term cycle down phases are cropping up, but they may not mean much. This report tells why, and what the targets are for this move, both in terms of price and time.