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Stock Market Says, Here Comes the Judge, All Rise

The 6 month cycle up phase reasserted itself last week.

All of the short term cycles up to 13 weeks resychronized with the 6 month cycle upturn. Cycle projections rose across the short term and intermediate spectrum. I also ran the regular quarterly update of long term projections. They also rose.

I should point out that those long term projections first pointed toward the market reaching 3900 last July, and pointing to 4000 in October, when the S&P was at 3300. We should not take the fact lightly that they now point higher still.

The swing trade chart picks list showed a small gain of 1.2% on average with an average holding period of just 4 days, as all but one pick, were new. This weekend I chose 4 new picks which appeared to have good potential for a decent sized swing move. All were buys.

The current screen had an impressive 75 bullish signals against just 8 bearish signals. But that’s less than half of last weekend’s buy signals. This diminution is normal as a trend progresses. The current numbers are still relatively large, suggesting that we remain in the early stages of the move.

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These reports are not investment advice. They are for informational purposes, intended for an audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance. 

Posted in 2 - Technical Trader
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