Last week I wrote that the 6 month cycle low setup was forming. Was this rally the beginning of the up phase? While we don’t…
Last week’s selloff did less damage than it may have felt like. The drop stopped in the area of 3 crossing uptrend lines, ranging in length from short term to long term. Here’s what would tell us whether the uptrend is still in force, or signal that something evil this way comes.
I have added 8 new stocks to the swing trade chart pick list, including 2 shorts.
We may be skating on very thin ice here, but the weight of the evidence still supports a weak bull case for the near to intermediate term. So I’m adding buy picks on the chart pick list and adjusting trailing stops to account for the risk.
If you are a cranky grizzly like me, you want to be short. Well, trust me, anytime someone says “Trust me,” I don’t trust them.…
Mike Tyson famously said, “Everyone has a plan until they get punched in the mouth.” OK, so the market didn’t quite punch us in the mouth last week, but it did lull me to sleep last weekend. No worries. This week, there were so many charts with buy signals, I’m going all YOLO.
There were lots of sell signals last week, but this isn’t the big one. Yet. We just need to be prepared for it.
Near term cycle projections have risen as the relentless mania just trends right along. We may as well take advantage, right? I’ve added a couple of swing trade chart picks that look well positioned to do just that.
What about all those sell signals? Failed again. Short sellers are setting themselves up as targets in a carnival shooting gallery. That’s typical of an entrenched mania.
When and where will it end? I’ve posted near term and longer term projections based on current trends and cycles.
Short term cycles have topped out and concurrent down phases are ideally due to last 2-3 weeks. With weak upward momentum in the 6 month cycAle, the potential exists for a significant downdraft. That, in turn would signal the onset of a 6 month cycle down phase. This is the best shot that bears have had for a turn in the tide since August-September.
Cycle configurations remain bullish. I have updated cycle projections for both the short and intermediate term, and the long term. There’s no respite in sight…
The current setup has the potential for an explosive rally. It doesn’t guarantee it, but we want to be prepared to take advantage if it happens. By the same token, we want to be alert for the signs that this could go south on us.
The charts, tables and discussion in this report show what to look for, with some ideas on how to trade it.