Cycle screening measures were weaker on Wednesday after 2 days of slight, non-material weakening that raised our suspicions while the market averages edged higher. However, the changes again were non material. Here’s what it means for the outlook.
The market pulled back after failing to clear resistance at 2130. The 4 week cycle has apparently topped out, so now the questions in the short run are whether it or the 6-7 week cycle are dominant and whether the 13 week cycle up phase, weak though it may be, might hold together for a…
Cycle screening measures were mixed with a slight edge to the sell side for the second straight day as the market averages registered tiny gains.
The market traded in an exceptionally narrow range, ending with a minuscule gain that changed nothing on the charts.
I hate when this happens. Cycle screening measures were mixed, slightly to the weak side, in a minor non confirmation of the rally. But there were buts. And the buts had counter buts. In the end, I have to lean in the direction of the weight of the evidence. This report tells what that is.
The fireworks are being set up for the Fourth of July, but the forecast says there’s a chance of heavy rain that would cancel the celebration.
Cycle screening measures were just slightly weaker on Friday. The aggregate measure moved down a hair. The majority of components were modestly weaker. There’s not enough here to reverse the short term bullish pattern of these indicators.
Remember those tests back in college where professors would write multiple choice questions where all of the options were plausible enough to be the correct answer and you had no idea which choice was the most correct one. The current setup in the stock market is like that regarding the intermediate term outlook. I take my best…
Cycle screening measures surged on Thursday. The aggregate measure reached a new minor high, but still needs to move higher to turn the intermediate term pattern from ambiguous and neutral, to bullish. Individual component measures were all stronger. The huge surge in new 6 month cycle signals putting that measure firmly back on the buy…
The market conclusively broke out of the short term downtrend and confirmed the onset of the expected 13 week cycle up phase. The issue now is whether a 6 month cycle high will cause the up phase to truncate and top out early.