Market Update

Ambiguity Is No Fun

Ambiguity is no fun, but it is what it is. With the market failing to blast through resistance at 1945, the signs are ambiguous. This report examines the ambiguity so that you can take your best guess on which way it will tilt in the short to intermediate term.

Where The Bottom Is Likely To Be

The market tried but failed to break out of crash channels on the SPX and DJI. It would need to close materially above 1907 on Friday to break that trend. There are no buy signals on any cycle indicators from 4 weeks to 10-12 months, which indicates that momentum is in gear to the downside…