Cycle screening measures scored a split on Friday, with little overall change from Thursday’s reading. Technical indicators overall were not materially weaker, but continue to indicate that cycles from 4 weeks to 6 months duration are in down phase. Most downside cycle projections have upticked to levels that have already been reached hinting that the down phases could remain sideways. The window of greatest cyclical vulnerability should remain open for at least the better part of this week. If the market does not break by Friday, the 6-7 week cycle is likely to have bottomed by then.
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