It’s not just the fact that the early rally reversed so decisively. New cycle projections point much lower, and clear support on the charts is even lower than that. Here are the particulars, including the current targets, and the number the market needs to beat to signal an upside reversal.
Growing weakness in 6 month cycle measures has now confirmed an early downturn in that cycle. Here’s what that portends.
The market has had 4 prior meltdowns in the past year that started ugly. This one is uglier. Here’s what to look for.
The charts look like they did when the last 4 declines this year started. What’s different this time is the oil crash.
Cycle screening measures weakened on Friday. The aggregate measure fell to the area where it usually makes a low, which is usually followed by a market low within a few days. However, there was one notable exception. That was in September. Here’s what this may mean.
Cycle screening measures were modestly stronger today, but that just creates ambiguity in the overall picture. It would be unusual for the market to launch a sustained short term rally before these measures get more oversold first and then form a positive divergence. The odds would normally favor a lower market low as that unfolds,…
The market rallied, but in so doing merely established a downtrend channel.
The weakness of cycle screening measures accelerated along with the market averages today. That suggests more downside ahead.
The 13 week cycle down phase suddenly grew teeth. Any further weakness from here could put the market in crash mode.
Cycle screening measures weakened on Tuesday. The aggregate measure fell out of a mild downtrend channel to a new low in this recent downtrend.