Strength in cycle screening measures on Monday has put them in position to signal a market swing. Here’s what to look for.
The short term picture remains cloudy but the test of the major trend now under way is strikingly clear on the long term chart. So far it has held.
The futures action on Friday suggests that Thursday’s market uptick and minor strength in cycle screening data may have just been a mirage. On Monday we’ll find out.
Futures have plunged this morning, more than reversing yesterday’s gain. Here’s what it means in terms of the market trend.
Cycle screening measures tilted more toward weakness yesterday. The aggregate measure downticked. Here’s what these measures portend about the market’s direction now.
While indicators have increasing edged to the sell side, the ultimate resolution of the trading range and establishment of clarity on the trend will depend on a couple of things.
Cycle screening measures strengthened slightly yesterday as the market whips and churns. Should we read anything into that?
The market is sending contradictory and confusing technical signals. That’s a characteristic of most trading ranges. Is this one different?
Cycle screening indicators did not foreshadow yesterday’s rally at all, raising questions about sustainability.
Stock prices continue their pattern of whipping wildly to and fro across a trading range devoid of both bids and offers.