The market edged lower on Wednesday but held above key support. All upside projections are now off the table but there’s no technical guidance on the downside. Therefore, we need to key on certain benchmark price levels for signs of what to expect. Two things do look reasonably certain. The meltup is history, and the…
Cycle screening numbers weakened slightly on Tuesday in a non confirmation of the uptick in the market averages.
The market rebounded slightly from key support on Tuesday. While cycles up to 13 weeks have entered down phases, there’s no sign yet that they will break down in absolute terms. Here’s what needs to happen to get the ball rolling, or not rolling.
That cuts both ways. It leaves a lot of room for things to get worse while also implying that the market wasn’t as weak as it looked. So it’s a pick ‘em. Here’s what I picked and why.
The market has now broken not only the meltup channel, but additional short term uptrend lines. This report tells what technical and cyclical analysis to look for as signals to what comes next.
Cycle screening numbers weakened slightly on Friday, continuing a string of minor declines. The aggregate measure made a new minor low, keeping it in a short term bearish pattern. But it remained in positive territory. This report reviews the data, charts, and recommended market positioning.
The way the dip buyers stepped in today reminds me of that old Joe Granville phrase, “the rally that fools the majority.” This report covers the benchmarks that will tell us whether it is or isn’t.
Cycle screening numbers were weaker on Thursday. The aggregate measure made a new minor low, which set up a bearish pattern in that indicator. But it remained in positive territory. This report tells what that means and tells you what to look out for.
Cycle projections still point higher as the market broke the meltup channel, but not by enough to signal an end to the intermediate uptrend. This report shows the benchmark levels to watch, and likely targets if those benchmarks hold.
The cycle screening data weakened today, but not enough for clear signals. The market appears to be at a fulcrum that could be an opportunity to add to pilot short positions.