Cycle screening measures strengthened on Friday, running counter to the loss in the market averages.
There’s just not a lot of clarity in the outlook at the moment. The bulls could not seal the deal on Friday, leaving uncertainty about whether short term cycle lows are in.
Cycle screening measures strengthened on Thursday, adding to Wednesdays slight gains. This came from an oversold level on the aggregate indicator. The pattern is consistent with all intermediate term reversals but…
As a result of the rally it now appears that the 13 week cycle down phase will stay sideways.
Cycle screening measures strengthened a bit on Wednesday from a setup which has signaled change 80% of the time in the past year.
The market tried to rally but failed, remaining below the centerline of a very sharp downtrending regression channel.
Cycle screening measures weakened on Tuesday. New 13 week and 6 month cycle signals were particularly weak. The aggregate measure made another new low, but reached a level usually associated with intermediate lows within a few days. Here’s what this means.
The market has entered the zone below 2080 where it is very thin and it is acting accordingly.
Cycle screening measures were slightly weaker on Monday, failing to confirm the rally in the market averages.
The market rallied back to a couple of broken support lines on Monday.