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Daily Market Update featuring Lee Adler’s proprietary cycle analysis and cycle screens of big cap stocks and ETFs, with market trend and position opinions and occasional chart picks. Click here to subscribe. Subscribers, click the post headline to access reports.

US Stocks Still Not Out of the Woods

Although the market only managed to tread water today, it was enough to pull most cycle projections back up to the levels the market has already plunged through as the bottoms failed. However, the 13 week cycle projection remains well below current levels and the preliminary 6 month cycle projection points even lower.

Bad Ticks Get Revisited and Crashes Develop When Bottoms Fail

This appears to be a failed 4 week cycle upturn and an extended decline out of a failed 13 week cycle bottom. The earlier projections for the lows were hit. Crashes happen when bottoms fail to materialize where they should. Confidence collapses, which is then compounded by margin calls. As a result, there are new,…