The market is meandering within narrow confines. The range of support and resistance is tightly defined. Are there signs of a break?
The market has seemed to be at an inflection point almost every day lately. With Friday’s slight strengthening in cycle screening data, Tuesday will be no exception. Here are a few keys to the likely direction of the inflection, the hope for the slope, the size of the rise, or the line of decline.
A couple of shorter term cycles are juxtaposed, with internal indicators softer, but intermediate targets suggest more upside. How should we resolve the conflicting indications?
Short term cycle screening measures are on unequivocal sell signals. But what about the intermediate term?
The uptrend became a little iffy today. The market has a line in the sand, which if it crosses, will probably lead to a sharper drop. But if it holds, new highs would probably be just around the corner.
Cycle screening measures were again a little weaker as the market approaches a few days when liquidity will be weaker.
Cycle projections moderated just a bit today, but they still point higher. Liquidity conditions will be unfavorable for the next few days. Will that be enough to turn the tide?
Cycle screening data showed more pronounced weakening than the slight slippage that began on Friday. Is it time to sell?
The market is still within the short term meltup channel but it is on the razor’s edge. Here’s what it needs to do to reach current projections.
The cycles screening data isn’t showing much enthusiasm for this rally, but it’s just enough.