When we left off here last Wednesday I suggested that the massive thrust in the new short term buy signals in the screening data would mean that there would be enough residual momentum to keep the bias to the upside for at least a few weeks. Here’s an updated look at that idea.
I warned yesterday before all the news was out overnight that we almost had to stay awake all night and trade 30 minute bar charts because of the current degree of “flexibility” in the cycle patterns, and the nasty habit of extracyclical factors–little things like central bank manipulation–upsetting the apple cart. When markets can move…
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.