Yesterday I doubted that the strengthening of these measures was meaningful. Today, the market extracted a price for that doubt, this time piling on to make the point even more strongly.
The rally broke short term trend resistance. Unless it stalls and reverses immediately on Thursday, it sets up a likely challenge of the early November high within the next few days. Then what?
Gold is probing the last line of defense as it tests the lows. The prognosis isn’t good.
Cycle screening numbers strengthened on Tuesday in spite of the loss in the S&P 500. This report tells what this means to the outlook.
The day and a half wonder rally stalled as it reached the point of retracing 50% of the November selloff. This report covers what that tells us about the outlook.
Cycle screening data weakened on Thursday, but it’s still a long way from being oversold. This report and market update posted earlier is available for weekly edition subscribers. No reports will be published this weekend.
The market plunged to trend support indicated around 2045 on Thursday. The area down to 2030 is suggested to be support, but there are signs that a crash may be developing. A very short term downtrend channel has already been smashed. If there’s no rebound from the 2030 area, the downtrend could accelerate. There are…
Cycle screening numbers weakened on Wednesday in a follow through on Tuesday’s non confirmation. Here’s what the cycle screens suggest about the outlook.
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.