Cycle screening data failed to confirm the rally today.
Short term cycle projections surged to even higher levels as the SPX edged to a new high.
Cycle screening measures were only slightly stronger on Tuesday. Here’s the rundown on what it means.
The market is pushing into resistance with most signs pointing toward a breakout. This report shows the resistance levels and price projections for this move.
The rally has stuck around long enough to allow for projections on the 6-7 week and 13 week cycles and to suggest that this could also be the early days of new 6 and 10-12 month cycle up phases. Here’s how the data shapes up, including the levels that look like likely targets for this…
Are stocks showing enough strength for a breakout?
The market pushed through a level where resistance could have shown up but didn’t, leaving the SPX in position for a full test of the highs over the next few days.
Cycle screening data weakened slightly on Friday. It raises a caution flag, but we’ll have to see if there’s any follow through on Monday before ringing alarm bells and waving red flags. A downturn from this relatively low level for a peak on the aggregate indicator could signal real problems.
Evidence of a 13 week cycle upturn continues to build and there are time counts which indicate that 6 month and 10-12 month cycle lows could form in this time window.
Cycle data strengthened today, just enough to confirm the rally. But does it mean that it has room to run?