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The market averages and technical indicators have weakened, but look ready for xxxx xx xxxx xxxx (subscriber version) before xxxx xxxx (subscriber version) in.
Cycles – The short term wave looks like it should xxxx (subscriber version) around xxxx to xxxx over the next week or so. A weak bounce or no bounce should lead to the 10-12 month cycle wave xxxx xxxx .
Third Rail Chart- The market needs to get below xxxx to break the intermediate uptrend. Failing that, another assault on the highs would be likely.
Should the market break xxxx, the next area of likely support would be around xxxx. And below that, the xxxx-xxxx area would be significant. Breaking that would complete a nice top pattern.
Liquidity is turning bearish, but it will be a gradual process that would allow for possible extension of the stock market rally consistent with the above projections.
Long Term Weekly- SPX would need to end a week conclusively below xxxx(subscriber version)to signal the likely start of a bigger top.
Long term cycle projections point to xxxx to xxxx (subscriber version) ideally due this year.
Monthly Chart – S&P remains in a narrow uptrend channel with resistance at xxxx (subscriber version). Above that is room to run to xxxx this month. It would need to end the month below xxxx to break the uptrend and open a chasm to the next support around 4000.
Cycle screening measures are behaving in a way that is unlike the patterns that were prevalent throughout the bull market. Are the dynamics changing finally? Too soon to say, but a downturn from here would signal that the answer is more likely to be yes. The pattern would turn bullish again if the market xxxx x xxxxx xxxx (subscriber version).
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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.
