It’s been a while since I have done an extended long term update. The market is at a juncture here where it’s opportune for some additional comments on the long term picture which I have included here. If you think that it’s murky you are correct. There’s simply too much riding on how the Fed…
The 6-7 week cycle has entered an up phase as expected but so far but where things stand on the 13 week cycle is another issue.
The bottoming window is very wide and the risks of a downward spike in this window are high.
For the first time in recent memory, the bears get to have turkey for Thanksgiving, the turkey being this market. Cycle projections are having trouble keeping up with the price action, but a new set of projections is now available for all key trading cycles that should please the bears and scare the bulls. But…
The market could not get out of its own way on Tuesday. There’s little sign of the 6-7 week cycle upturn that’s due.
It was a dark and stormy day on Wall Street and financial markets around the world on Monday. It feels like the wheels are finally beginning to come off, but the SPX managed to hold a key support level.
The market held at support on Friday, forestalling a meltdown. Short term projections have been reached an a 6-7 week cycle low is due. Is that enough to trigger a rally?
The market fell to a critical support level. There are signs suggesting what it will do next.
The market break felt significant, and a 13 week cycle down phase has been signaled, but neither the Dow nor the S&P broke key support levels. Here’s what needs to happen for the bears to take over, or for the bulls to stay in charge.
Every day is now make or break for bears more than bulls. A sideways market works in the bulls favor for the time being.