The market has begun to edge above major resistance, clearing the way for a significant extension of the rally.
The market update will not be posted tonight. I’ve run out of ways of saying the same thing differently. The report will return tomorrow at the regularly scheduled time. Meanwhile I’ll look at the charts and post a brief update in the morning if there’s anything worth reporting.
Upside projections were little changed on Friday. The market remains in trending mode. When will it return to cycling?
This uptrend refuses to die. Most indicators continue to move more or less sideways in positive territory. There’s no sign of any change in the weak trending nature of this market.
Bears scored a minor victory on Wednesday, with many indicators barely crossing over their signal lines to the sell side. But we’ve seen this before in this uptrend and prices barely paused before moving higher again. So what are we supposed to think now?
The 10-12 month cycle projection has surged and now points to a range of 1460-1530 due between now and May. This report explains how I can still have a position that is contradictory to that analysis, with the possibility that both views may turn out to be correct… or not.
The market continues to trend weakly higher. Cycle indicators have become all but worthless in the process. All that’s left is to follow the bouncing ball as it rolls uphill along the trendlines, until it doesn’t. All intermediate cycle projections now point to 1420-30. It’s pretty simple from here.
You know you’re in a bull market when the indexes plow through one sell signal after another and just keep trending higher, which is what this market is doing. Intermediate cycle projections continue to point to higher levels. This report examines how much higher, and what to look for to indicate that it might not…
Synchronized down phases may be developing in 4 week through 13 week cycles but we don’t know what shape they will take. Here’s what to look for.
In one of the more bizarre displays of behavior I have seen in 45 years of observing the market, the short term indicators have been running dead flat at the neutral line. Apparently the market has reached a state of perfect equilibrium and absolute stasis. JP Morgan has arisen from his grave to pronounce, “The…