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.
The market’s technical pattern and indicator behavior over the past month bear a striking resemblance to October 2011, four years ago. The similarity of those patterns, and the 4 year time frame raises the question of whether this move, like that one, is the kickoff to a new cyclical bull market leg. The question now…
Cycle screening measures were stronger on Friday, but the strength again failed to run the table. The aggregate indicator strengthened for a second day and is again at a very strong level. This report tells what this means about the market outlook.
Cycle screening measures were stronger on Thursday, but they left room for doubt. The aggregate indicator strengthened only modestly in breaking a record string of 11 straight declines. Three of the components actually weakened slightly and two were unchanged or nearly so. With the market averages just now reaching into an area where there should…
The market blasted through multiple resistance lines, ending any thought of stopping at 1939 for a back kiss of death. There’s another thicket of resistance just above, but the latest cycle projections point higher. Partly because the market is now challenging major resistance, the action over the next couple of days should send important signals…
Cycle screening measures were weaker on Wednesday. The aggregate indicator declined but held above +400, which is still a positive level. It was the 11th straight decline, which is a record. Here are the implications including a change in swing trading tactics.