Short term cycles are in down phases. There are a couple of clear parameters to watch for signs of whether this will get worse or not. Intermediate cycles appear to be topping out. Again, there are clear parameters to watch for confirmation.
But the long term indications remain bullish, with a brand new price and time projection for the bull market high. It won’t make bears happy, but our chart picks still have 4 shorts along with 7 longs. The bull is no longer a monolith, but it only takes a few big stocks to carry the market averages higher.
Not a subscriber? Try Lee Adler’s Technical Trader risk free for 90 days!