Cycle screening measures were mixed at very weak overall levels on Friday. 5 of the 9 measures were weaker. Some new signal measures appear to be improving only because of normal decay in new sell signals as down phases mature, but so far there has been no increase in new buy signals, which is the necessary precursor to a rally. Some measures neared “oversold” levels, but that has different implications in a bear market than in a bull market.
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