A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Posts Tagged ‘ Resistance ’
Not As Bad As It Looked, But Don’t Worry, It Could Get Worse
On Monday, support held and projections were pulled up to levels that were reached, all of which suggested that an intermediate low had been reached. Tuesday’s late fade raises questions, which this report attempts to answer.
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Market Rebounds At Major Inflection Point But Is Not Out of Woods
The market reached major support on Friday and rebounded strongly yesterday to form what could be an intermediate bottom. Cycle projections rose to levels already reached and the market had entered a bottoming window in terms of time. Some indicators have flashed buy signals. But is that enough to call a bottom?
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Gold In Short Term Rally Phase Toward Resistance
Here are today’s gold stock screens and data, along with cycle conditions and projections for gold and HUI index, and Chart of the Day picks for swing trades. Indispensable daily information for gold and precious metals stocks traders.Click here to download complete report in pdf format (Professional Edition Subscribers). See the current full sized...
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Market Oversold, But Breaking Down From Major Top Means More To Come
Several technical indicators have reached levels consistent with intermediate lows, but key support levels have been broken, and despite some signs of being oversold, the market remains vulnerable to further declines, both over the short run and the longer term as well. The market averages have broken down from an important top, and some...
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Carve this market in butter
Drip, drip, drip goes the market. This can go on for a while, as few indicators have reached any kind of extreme. Cycle projections have been hit on the 13 week and 6 month cycles, but short term projections still point a little lower. This report presents the targets, carved in butter.
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Market Peeks Over The Cliff’s Edge
The market broke key support yesterday, but not by much. This morning it is attempting to regain that level. If successful, a 4 week cycle upturn could be under way, but the market would need to clear the 1355 area to have any room to run on the upside. If the market fails to...
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Black and Blue Swan Could Spook Traders in Most Vulnerable Period
By the time the market closed on Thursday, even before Jamie The Demon got on the phone, the charts were sending little signals that things were about to get worse. Cycle alignments had said that the period of greatest vulnerability would last through next Monday. Now, suddenly we have a black and blue swan...
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Testing Major Support, What To Expect Next
The market continues to test support. A close below 1345 would break several major support levels and trend channels. Some traders may be benchmarking the March low of 1340. If this test holds, the trading range would remain intact. This suggests what is likely to happen next if it does hold, and if it...
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Breakdown Today Would Put Bears In Control Copy
The market is testing major support again this morning. A close below 1345 would break several major support levels and trend channels. This report examines the triggers and potential outcomes.
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Bored Market Still Wants To Go Up
The market remains in the doldrums, with every sign pointing to a continuation of the ennui. The 10-12 month cycle is ideally due to peak on Monday, but a variance of a month or two is normal. Unless key support lines are broken, the odds will continue to slightly favor a move to the...
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EU Ministers Fail to Reach Deal on Bank Capital Rules – Bloomberg
BloombergEU Ministers Fail to Reach Deal on Bank Capital RulesBloombergEuropean Union finance ministers failed to reach an agreement to toughen bank capital rules in the face of British resistance and now aim for a deal at their next meeting on May 15....
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Technical Signs Don’t Confirm Rally But The Trend Is Still Your Friend
The uptick in the averages was accompanied by only mixed indicator readings. The cycle projections, however, tilted a bit more bullish than yesterday’s readings. All downside projections have risen to levels already reached. As long as the market averages hold above uptrending support levels there should still be a chance for the market to...
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Cycle Juxtaposition Could Tie Market In Knots for Months
The market’s drop yesterday changed nothing in the numbers or the chart patterns. Upside projections range from 1407, already done, on the 4 week cycle to 1425 on the 6-7 week cycle, and 1460-90 on the 10-12 month cycle, with an idealized peak target date of May 7. On the downside 13 week and...
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SPX Update: Bears Need to Get ‘er Done, or Go Home
Yesterday's count expected further upside, which is what the market provided. At this stage, there's just not much to add. This remains one of the more challenging structures I've had to decipher in some time, but if the expanded ...
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Do bears do their business in the woods, or on The Street?
The market extended its little tear on Thursday and looks good for at least a test of the highs, with an initial projection of 1413 on the 4 week cycle. The 6-7 week cycle is now also clearly in an up phase. A 6 month cycle upturn is overdue but there’s no confirmation yet...
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AAPL Has Short Coattails
The Nasdaq and SPX had big moves on the strength of the move in AAPL, but the Dow and screening measures were less enthusiastic. What happens next depends on whether the move continues and broadens out on Thursday. Short term cycles are in up phases. 13 week and 6 month cycle up phases could...
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Will Bernanke Step On The Apple
There’s still a chance that the 6-7 week cycle up phase may show some strength, with the 6 month cycle possibly getting in gear as well over the next couple of days to make a run at the 10-12 month cycle projection of 1450. It depends on whether the enthusiasm over AAPL sticks through...
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Mixed Bag of Numbers Tilting Down
More weakness today could indicate a failure in the 6-7 week cycle up phase, which could lead to the market quickly reaching the new 6 month cycle projection of 1327.
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Stock Market Bulls Are Running Out of Time
Indicator patterns in all time frames seem to be becoming increasingly ambiguous. However, with short term cycles due for up phases, if they fail to turn up that would suggest that the longer term cycles are weakening, consistent with the 10-12 month cycle topping out.
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Hey Mr. Market, The Clock Is Ticking
The market’s stutter step decline when short term cycles should be entering an up phase could be a sign of bigger underlying weakness. Time is running short for this thing to gain price traction.
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Rally Attempt Set for Flameout Or Breakout
The market ran into a line of resistance and pulled back. Broad market indicators were mixed and inconclusive but cycle screening measures continued to build on strength.
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Short Term Cycles Burst From The Gate
The market lifted off from support trendlines in an apparent 4 week and 6-7 week cycle upturn. Here’s what the data says about intermediate and longer term cycles.
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Market Looks For Short Term Turn
While all cycles up to 10-12 months are technically in gear in down phases, the market has shown little sign of giving ground. Lows are overdue on the 4 week and 6 month cycles and only the 4 week cycle projection is slightly below levels that have already been reached. Liquidity should now be...
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Ugly Looking Selloff, But Cycle Screening Measures Don’t Confirm
The market selloff looked ugly, but cycle screening measures are either lagging badly or signaling that this weakness won’t be sustained. That’s like saying the market will either go up or down, but I’m leaning toward door number two, that the market isn’t as weak as it looked on Friday. Once Monday’s big Treasury...
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Rebound Means Trend May Not Be Broken
V shaped bottoms have become the rule rather than the exception in this HFT bot driven market. The algorithms all see the same thing at the same time and, badda bing badda boom, off we go. The 10-12 month cycle top could be a long drawn out affair. This report looks at what shape...
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Updated Screening Data Says Market May Turn
Cycle screening data has now been updated. The Aggregate Differential indicator has reached an oversold level where it usually bottoms.
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Will Monday Be The Dawn Of Correction?
Apparently I wasn’t the only one who correctly guessed that Friday’s jobs data would be a big miss. (http://wallstreetexaminer.com/2012/04/05/nonfarm-payrolls-should-fall-by-377000-but-they-wont/). In spite of the fact that the market averages were only down a hair, sell signals cropped up on a number of intermediate technical indicators on Thursday, and the screening data was much weaker than...
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Market Fires Warning Shot
Bears fired a warning shot on Wednesday. It’s probably not the end, but probably is the beginning of the end of this uptrend. The market seems to have at least entered a 10-12 month cycle top phase. Here’s what that portends.
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Were The Dealers Just Shaking The Tree on Tuesday?
Was today’s selloff just the dealers shaking the low hanging fruit from the tree?
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SPX, NASCRACK, RUT, and USD Updates: This Rally Was No Surprise…
A quick reminder: if you haven't met the requirements for registration at the new forum, your account will, unfortunately (or maybe fortunately, lol) not be approved. Please read this thread carefully when registering. ...
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