Indicator patterns in all time frames seem to be becoming increasingly ambiguous. However, with short term cycles due for up phases, if they fail to turn up that would suggest that the longer term cycles are weakening, consistent with the 10-12 month cycle topping out.
The rally was based more on a knee jerk news reaction than any cyclical flows, ostensibly because some French banks agreed to let Greece default and not call it a default. There are no clear signs yet that it will be sustained. We’re getting into the mid stage of a 13 week cycle up phase…
Time wise, 13 week and 6 month cycles should be turning up, but instead they are weakening.
Friday’s pullback inflicted little damage but time is beginning to run short on this 13 week cycle.