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.
With the exception of a 4 week cycle down phase that’s been skewed out of existence, the key swing cycles remain in gear to the upside. Where will it end? This report covers targets and trigger points.
Cycle screening measures weakened today. The aggregate measure dropped below +1000 for the first time in 12 sessions, ending a record string of readings above +1000. Here’s what this data suggests about the direction of the market.
The market is poised to break through resistance around 2025, setting its sights on the top of a broadening pattern now near 2040. But then what?
Cycle screening measures weakened modestly on Tuesday but the aggregate measure remained above +1000, continuing a record string. Here’s what that implies about the stock market.
The 4 week cycle has probably entered a down phase but other cycle indicators suggest higher prices to follow.
While cycle screening measures softened slightly, both the aggregate measure and the individual intermediate term measures remain on the strong side, with the aggregate measure stringing together 10 straight readings of +1000 or more, beating the past record of 8 straight such readings. Once was in October 2013 and once in March 2009. This report…