Having repeated essentially the same analysis and forecast for seemingly the past 10 days, I won’t bore subscribers with more of the same tonight, especially since it’s late and you have enough to digest with the housing report and the free reports on unemployment claims and retail sales.
Cycle projections were down slightly in the 6-7 week and 13 week cycles. The changes were not material. The outlook is unchanged from Wednesday’s report.
Stock screening data had a small uptick again. 6 month cycle status continued to gain and is now solidly in bullish territory. 13 week cycle status had a non material decline and remains solidly bullish as does 6-7 week cycle status, which rebounded from a decline on Wednesday.
On the cycle screen aggregate net differential chart, the net differential line had another small uptick, and the cumulative line edged to a new high, but remains in the same channel.
Click to enlarge
I will post the complete market update this weekend as usual.
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