The market slightly broke the meltup channel on Tuesday, but not enough to be decisive. The preponderance of the evidence still points a little higher. Here are the parameters to expect and what needs to happen to signal that change is coming.
Cycle screening measures were slightly weaker again on Monday. The aggregate indicator slipped slightly but held above +600, which is still a strong level. This is both a negative divergence, and a possible internal correction, where the technical indicators pull back but prices don’t.
The market tried to sell off a couple of times on Monday, but the meltup channel held and the market started to move up from the lower channel line late in the day. Here are the likely price and time targets of this move.
Cycle screening measures were mixed on Friday. The aggregate indicator slipped slightly but held above +800, which is still a very strong level. Here’s what the numbers suggest about the trend.
The market continued its rally, wiping out any notion of a 4 week cycle down phase as it pushes through one minor resistance level after another. It has set up a meltup channel in the process. Here are the parameters to watch for signs of change, and the likely targets of this move if trend…
Cycle screening measures were mixed on Thursday. The aggregate indicator slipped slightly but was still above +900, which is a very strong level. The strength in the aggregate number and the 6 month cycle measures suggested that the bias was toward the rally making another attempt at a new high. It has come sooner rather…
Resistance proved no match for short to intermediate term bullish forces. Here are the likely targets of this move and the benchmarks to watch.
Cycle screening measures were weaker on Wednesday. But after falling for 6 straight sessions, the aggregate indicator was still above +1000, which is a very strong level. Here’s how we should view that.
The market extended its pullback today after it failed to break the September intraday high on Tuesday. But other than very short term indicators, most indicators remained positive and most cycle projections still pointed higher. Here’s what it means.
Cycle screening measures were slightly weaker on Tuesday. New 4 week cycle signals were the only measure to slip to the sell side on balance. Here’s what it means.