Cycle screening measures were mixed on Monday with a slight edge to the strong side. This was a positive divergence from the loss in the market averages. All new signal measures except for new 6 month cycles are now on the buy side.
The market’s downtick on Monday left tentative crash channels intact, but also in doubt because the averages held above support. There’s a crucial support level that probably holds the key to the market’s future.
Cycle screening measures were stronger on Thursday. That would normally favor a bounce. And Wall Street always says, “What happens on Sunday, stays on Sunday.” But with world markets getting a beat down on Sunday night in New York in the wake of the Greek referendum results, the theory is about to be tested. Considering…
Stocks stood still on Friday. Here are the support and resistance levels and cycle projections conditions you need to be aware of for the start of the week.
Cycle screening measures were stronger on Wednesday. While all 9 measures rebounded, all remain deeply tilted to the sell side. The aggregate measure rose along with prices, but remains at an extremely weak level. Here’s what this means for the market.
One support area has held so far, so the 13 week cycle could try to turn up again. But counts on other cycles suggest that downward tendencies could persist for another two weeks or more. The signals are confusing but this report reveals the key levels to watch that should tell us where the market…
Cycle screening measures were slightly weaker on Tuesday. The aggregate measure slipped to an even more extreme oversold level. Such negative readings usually begin to moderate at least several days before the market turns up. There are other signs that also say not to trust a rally.
The market hung around just below the support lines it had slightly broken on Monday. This leaves the status of the breakdown in some doubt. Was it just a back kiss of the breakdown to be followed by an extension of the decline, or the beginning of a bottoming process? That’s for the market to…
Cycle screening measures were weaker to the degree that we would expect on a day where the market dropped sharply.
The neckline of the head and shoulders top pattern which we’ve been watching develop, broke today, resulting in an initial measured move objective of 2010. But cycle indicators show that this break could have greater implications.