An old friend of ours who was a brilliant support and resistance trader was of the opinion that the more often support or resistance is tested, the weaker it becomes. The 2115 area has been tested repeatedly over the past 7 weeks. Will it continue to hold off the relentless buying?
Cycle screening data was stronger on Wednesday. The aggregate measure jumped. But the pattern is not yet uniformly bullish.
The market has pushed to the top of its range in position to attack resistance at the highs. Here’s what to look for.
Cycle screening data was mixed on Tuesday, continuing the inconclusive pattern of recent weeks.
As the market’s trading range narrows, a breakout draws closer. But which way?
Cycle screening measures were mostly weaker on Monday, either because they are too slow to catch up with the market’s whipsaws, or sending a warning that the rally isn’t supported. Which is it?
Another miracle stick save on the heels of a minor selloff has kept the market on track for a 13 week cycle up phase, but it’s not clear how strong it will be.
Cycle screening data was materially weaker across the board on Friday, dropping all 9 measures to the sell side on balance. The aggregate measure went deeply negative but stopped at the trendline of rising lows. Here’s what it means. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition…
The decline this week did not quite break the long term trendline from the 2009 low, but it’s sitting right there.
Cycle screening measures were slightly weaker on Thursday, but not enough to tilt the overall levels and patterns to the bearish side.