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.
The market pulled back from multiple resistance lines, including the line extended from the March low at 2039.69. Failure here could be a classic “return to the scene of the crime” where the market rallies only to where it originally broke down from the top around 2039, otherwise known as the “back kiss of death.”
Cycle screening measures were little changed on Tuesday. The aggregate indicator slipped minimally but held above +600, which is still a strong level. After 10 straight declines the aggregate indicator has reached a moment of truth.
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.