The bears’ line in the sand held last week but the war isn’t over yet. Here are the parameters of the battle and what to expect when they break.
The market met the best hopes of bulls and worst expectation of bears last week as it broke out above 2673 and hit my potential target of 2725. It’s in a meltup channel but faces multiple resistance lines. Here’s where they are and what to look for.
The market is again at a crossroads. A strong start to this week could trigger buy signals on the 10-12 month cycle. But bears could stay in control if certain things happen. This report covers the triggers for both scenarios.
The SPX has reached a moment of truth. It is trading just below the confluence of several short term and intermediate trendlines. Here’s where the signs point.
The 10-12 month cycle remains in a down phase with more downside potential ahead. Conversely, the 6 month cycle seems to be in a weak up phase. But bears need to be careful because the up phase could still come to life. With multiple crosscurrents at work, here’s what to look for.
On the long term chart, both the 3-4 year cycle momentum indicator and cycle oscillator are on the cusp of turning down. If and when they do, it would confirm a bear market. This report shows you that chart as well as daily charts and intermediate term time and price targets.
I have made no additions to the list for Friday. Here is today’s updated list including new buys, sells, short sales, cover shorts, and updated stops, as well as performance metrics for this month.
The market remains in a sharply descending short term channel. We have gotten the expected bounce from the 2588 area, and it is being tested again here on Wednesday morning. Here’s what to expect. Here is today’s updated list including new buys, sells, short sales, cover shorts, and updated stops, as well as performance metrics…
I have made no additions to the list for Wednesday. I’ll continue to ride out the current picks until they are closed. There are now just 4 shorts and no longs after one was stopped out on Tuesday with a 16% gain in 26 calendar days. Here is today’s updated list including new buys, sells,…
I have made no additions to the list for Tuesday. I’ll continue to ride out the current picks until they are closed. That leaves us with just 5 shorts and no longs. March was a difficult month, but we came back strong in the last two weeks to end the month with a loss of…