Cycle screening numbers were mixed Friday. Some key measures strengthened. Others weakened. The aggregate indicator held steady but remained in a negative divergence versus the market averages. This report tells what to watch for and what to expect as a result.
The market has reached a key inflection point. It should signal one way or the other the direction of the next big move. This report covers the benchmarks to watch.
Cycle screening numbers were minimally stronger today. The aggregate indicator upticked but remained in a negative divergence versus the market averages. It is still below Monday’s peak.
They poured water on the fire on the roof today. It stopped the market from burning through resistance for one day anyway. But did that put the fire out?
Cycle screens strengthened slightly in response to the FOMC policy resubstantiation rally. The aggregate indicator upticked but remained in a negative divergence versus the market averages. This can go one of two ways.
The market is on fire and is beginning to burn through overhead supply. The 4 week, 6-7 week, and 13 week cycle projections all point to 2080-2102. But other projections point higher. This report tells what to look for.
Cycles are usually set up for a post FOMC Fed policy resubstantiation rally, but the weakening in the cycle screens today suggests that this time could be different.
The market paused again on Tuesday, pulling back from resistance around 2080. The low end of the latest 13 week cycle projection range has been cleared but the upper projection, and more, still has a shot.
Cycle screening measures were stronger on Monday, suggesting that the slight downtick in the S&P won’t see follow-through on Tuesday. But there are bigger fish to fry in the numbers.
The market paused on Monday as it battles resistance around 2080. This report covers what the indicators and projections tell us about the market’s next move.