This report is an excerpt from the permanent Retail Sales Chart Page. See that page for more charts and discussion. That page will be updated whenever new data is released. Bookmark that page for future reference. Real Retail Sales Ex Gasoline Per Capita Helped by the drop in CPI in May, Real Retail Sales Ex…
The market is trading in an indecisive pattern, waiting for some impetus for the new 13 week cycle up phase that’s having trouble getting any thrust.
Some of the sector charts that were looking as though they were starting an intermediate up phase suddenly don’t look so hot. As for the market, the 13 week cycle up phase has gotten off to a terrible start. This report explores that means for the overall outlook.
Bulls put half a nail in the temporary bear coffin on Friday (temporary coffin- huh?). It looks as though a 13 week and 6 month cycle bottom has formed, but there are big question marks, not the least of which are how strong the up phase will be and even whether this turn is for…
Time factors continue to argue for an intermediate up phase and most technical measures are haltingly agreeing.
The market sent a bunch of signals on Wednesday that said the 13 week cycle low was in, but it’s easy to cross a trading range, and another thing to break out.
Support levels have held, and time counts suggest that an intermediate low is due. Downside projections have been reached. The only things missing are indicator buy signals and breakouts through the 1290-1300 resistance band.
The cycle screens did not confirm yesterday’s rally. The 6 month cycle projection has been reached, but the 13 week cycle projection has dropped to 1245, with a low ideally due now. There are no buy signals yet. The short term indicators are still mostly on the sell side, with some ambiguity. This report illustrates…
The market has fallen to a major support convergence at 1295 and is in a bottoming window time wise. That window stretches across the next two weeks. If the 1295 level breaks, ugly could get uglier. Here’s how much.
The market keeps taking out support levels as if they’re not there, and cycle projections keep dropping. Long term indicators are beginning to hint at the return of the 4 year cycle. This report examines the implications.