Cycle screening measures mimicked the market averages, with very little change overall.
The market marched in place today, failing to get through several lines of resistance indicated around 2075.
The gains in cycle screening measures were less than convincing.
The bulls increased their chances of driving the market to reach revised upside cycle projections.
Another down day created an even more mixed picture with cycles and indicators pointing in all, directions, up, down, and sideways. So here’s how to tell where the market will probably head.
Cycle screening measures weakened on Friday, reversing Thursday’s slightly higher high in the aggregate indicator.
The market tried to break out of the trading range Friday but could not hold and closed back below the trendlines delineating the range on several types of chart.
Cycle screening measures strengthened as the market averages approach a breakout.
The market made its move to the top of the trading range with signs that upside momentum is picking up.
Cycle screening measures did not confirm the late selloff yesterday.