Wednesday’s action was a mirror image of Tuesday, except that the underlying technical indicators were stronger than the market averages on both days. The market still has to clear resistance and generate 13 week cycle buy signals to confirm that it is out of danger on the downside.
Tag Archive for Current Report
Professional Edition, Technical Trader
Not As Bad As It Looked, But Don’t Worry, It Could Get Worse
by Lee Adler • • 0 Comments
On Monday, support held and projections were pulled up to levels that were reached, all of which suggested that an intermediate low had been reached. Tuesday’s late fade raises questions, which this report attempts to answer.
Professional Edition, Technical Trader
Market Rebounds At Major Inflection Point But Is Not Out of Woods
by Lee Adler • • 0 Comments
The market reached major support on Friday and rebounded strongly yesterday to form what could be an intermediate bottom. Cycle projections rose to levels already reached and the market had entered a bottoming window in terms of time. Some indicators have flashed buy signals. But is that enough to call a bottom?
Professional Edition, Technical Trader
Bulls Make Last Stand At Critical Major Support Level
by Newswires • • 0 Comments
The market has fallen to a major support convergence at 1295 and is in a bottoming window time wise. That window stretches across the next two weeks. If the 1295 level breaks, ugly could get uglier. Here’s how much.
Technical Trader
The Bears Are Back In Town
by Lee Adler • • 0 Comments
The market keeps taking out support levels as if they’re not there, and cycle projections keep dropping. Long term indicators are beginning to hint at the return of the 4 year cycle. This report examines the implications.
Technical Trader
Market Oversold, But Breaking Down From Major Top Means More To Come
by Lee Adler • • 3 Comments
Several technical indicators have reached levels consistent with intermediate lows, but key support levels have been broken, and despite some signs of being oversold, the market remains vulnerable to further declines, both over the short run and the longer term as well. The market averages have broken down from an important top, and some long…
Professional Edition, Technical Trader
Carve this market in butter
by Lee Adler • • 0 Comments
Drip, drip, drip goes the market. This can go on for a while, as few indicators have reached any kind of extreme. Cycle projections have been hit on the 13 week and 6 month cycles, but short term projections still point a little lower. This report presents the targets, carved in butter.
Professional Edition, Technical Trader
Market Peeks Over The Cliff’s Edge
by Lee Adler • • 0 Comments
The market broke key support yesterday, but not by much. This morning it is attempting to regain that level. If successful, a 4 week cycle upturn could be under way, but the market would need to clear the 1355 area to have any room to run on the upside. If the market fails to recover…
Technical Trader
Black and Blue Swan Could Spook Traders in Most Vulnerable Period
by Lee Adler • • 0 Comments
By the time the market closed on Thursday, even before Jamie The Demon got on the phone, the charts were sending little signals that things were about to get worse. Cycle alignments had said that the period of greatest vulnerability would last through next Monday. Now, suddenly we have a black and blue swan to…
Technical Trader
Testing Major Support, What To Expect Next
by Lee Adler • • 0 Comments
The market continues to test support. A close below 1345 would break several major support levels and trend channels. Some traders may be benchmarking the March low of 1340. If this test holds, the trading range would remain intact. This suggests what is likely to happen next if it does hold, and if it doesn’t.
