Cycle screening measures were weaker on Thursday but not weak enough to signal that trend change is imminent.
What analyst in their right mind would go out on a limb and actually “call” a trading range. It’s Wall Street sacrilege! But here’s the rationale for it, nevertheless.
Cycle screening measures strengthened broadly along with prices on Wednesday.
The Fed policy resubstantiation rally showed up a day earlier than usual, in fact a minute and a day early, but at least it didn’t take us by surprise. Here’s where it appears to be headed.
Cycle screening measures strengthened on Tuesday, continuing to gain as the market averages slipped.
The market did a little stutter step as the pre-FOMC waiting game random movements made their appearance.
Cycle screening measures strengthened on Monday, while the market caught up with Friday’s strength in these measures.
Stocks broke out of jail today, taking aim at bigger spoils.
Cycle screening measures strengthened on Friday, running counter to the loss in the market averages.
There’s just not a lot of clarity in the outlook at the moment. The bulls could not seal the deal on Friday, leaving uncertainty about whether short term cycle lows are in.