Technical indicators continue to tilt toward confirming that a 6 month cycle low is behind us. A cynic might believe that certain big money players with a big time former executive at the helm of the NY Fed might have an inside track on what the Fed’s decision will be on Wednesday, and that that…
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.
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…
Cycle screening data has now been updated. The Aggregate Differential indicator has reached an oversold level where it usually bottoms.
Apparently I wasn’t the only one who correctly guessed that Friday’s jobs data would be a big miss. (https://wallstreetexaminer.com/2012/04/05/nonfarm-payrolls-should-fall-by-377000-but-they-wont/). In spite of the fact that the market averages were only down a hair, sell signals cropped up on a number of intermediate technical indicators on Thursday, and the screening data was much weaker than the…
Technical indicators weakened slightly and the market gave ground slightly but there’s still no sign of a reversal of any significance. If support around 1395 holds then the uptrend would remain intact. If it breaks, this report gives targets and the likely scenario based on support, resistance, trends and cycles.
The market averages broke out and technical indicators confirmed the move. The suggestion is that new up phases are beginning not only in short term cycles, but in the 13 week cycle as well.
Technical indicators are increasingly signaling a correction, but the market is giving little ground. Amazon is giving it an excuse to sell off after the bell, but the S&P futures have barely budged. Bad news is “company specific.”
Technical indicators show some fraying around the edges. 10-12 month cycle momentum is surging on the buy side, but VIX keeps sending sell signals. Conflicting indications abound. This report gives keys to judging which way the market will break.
The market’s mixed performance was accompanied by minimal strengthening in technical indicators, as well as ongoing signs of possible distribution in the cycle screening measures. Key cycles are now in topping areas time wise, but price projections edged higher. Where does that leave the market… and us?