The recent slight edge to the buy side in new short term signals suggests that short term cycles might turn back up before the 6 month cycle turns down.
Cycle screening measures continued a string of minor weakening today. The question becomes whether this merely reflects the short term cycles in down phases in a form of internal correction or is a sign of impending weakness.
Gold has hit the last major support level before catastrophe and has reached one significant intermediate cycle projection but not another.
Cycle screening measures were only slightly stronger on Tuesday. Here’s the rundown on what it means.
Cycle screening measures had solid gains on Friday in support of the gains in the market averages. The aggregate indicator turned up from a higher low, forming a positive divergence versus the major averages.
While the broad market averages have yet to confirm a 6 month cycle top, the cycle screening measures continue to suggest that one is under way.
The market is holding its cards close to the vest. Where will the next really big move (say 3%) go? Internal screening measures are leaning one way, anxious for the starter’s pistol. Will they have a false start, or be off to the races again?
Cycle screens did not confirm the market’s rally today. Is that just a matter of lag, or an important non-confirmation?
The market stayed on its track on Friday, with little change in the trend tracks of the broad market averages or their cycle indicators. Intermediate cycle projections rose. Here are the latest projections.
Gold has cleared an intermediate downtrend line and is working toward the next resistance line at 1294. There’s a new 13 week cycle projection.