The market extended its rally on Thursday, in the process breaking through the baseline of a 3 week reversal pattern. That breakout portends a full retest of the October highs. Cycle projections don’t go that far, pointing only to a preliminary projection of 1548 at this point. Click here to download complete report in pdf format (Professional Edition Subscribers).Try the Professional Edition risk free for thirty days. If, within that time you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.
Breakout- WSE Pro
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Lee, are you backing off the liklihood of the next 10-13 rollover being the kickoff to a major ass-beating for the market, for at least several weeks(if not a leg of a cyclic bear market),as it aligns to the downside? I look for another couple-three % rise near term, but everything I look at technically seems to indicate we’re just broadening a major top and the next significant swing down ought to break it down. Email me if you prefer.
Thanks for your question! I am happy to answer it here in general terms.
I’m definitely still bearish on the big picture. At one point in last night’s report I did present a possible alternative to how things could play out. I consider that alternative unlikely, but I’ll let the market speak.
Since my focus is intermediate swing trading, my main concern right now is staying with the current uptick and looking for signs of its termination, keying on the projection areas and time windows I discussed in the report.
Then I’d expect the shape of the next down phase will confirm or not confirm my longer term view.
I would not hesitate to get short the next set of 13 week cycle sell signals, that’s for damn sure. It could be the greatest shorting opportunity for a generation. If those intermediate term positions should turn into long term holds, so much the better, but if they don’t, I’d just trade out of them and get long again like I did on this last turn.