Market Update Pro

Stock Market Exhibits Crash Like Behavior

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.

Cyclical Signs Vs. Season Tendencies

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,…