The market did an abrupt about-face after breaking out of a crash channel to begin the week. That about-face put the market right back in that channel.
Cycles – Shorter cycles are still in gear to the downside. A 6-8 week cycle low is still due by xxxx xx (non subscribers click here to access) within a projection range dropping to xxxx-xxxx. The incipient potential up phase in the 10-12 month cycle seems to have aborted. The 6 month cycle up phase is also on the verge of a possible early failure. A breakdown in price this week would imply xxxxxxxxx xxxxxxxxxx xxxxxxxxx.
Third Rail Chart – To break out of the crash channel they’ll need to clear 3 resistance levels. This week, they are around xxxx xxxx and xxxx (non subscribers click here to access). To break the intermediate downtrend, they would need to clear xxxx. They would merely need to break xxxx by the end of this week to keep the crash channel intact. If it were to happen sooner, that would signal acceleration of the downtrend.
Long Term Weekly- The 3-4 year cycle is in a top phase, but it still has an unmet projection of xxxx that can’t be ruled out until the top breaks down. That would require a weekly close below xxxx (non subscribers click here to access).
A 7 year cycle top is due this year in a projection range of xxxx-xxxx(non subscribers click here to access).
Monthly Chart – Trend support is around xxxx in April. If that breaks, the next target would be the trendline around xxxx-xxxx (non subscribers click here to access).
Cycle Screening Measures – The cycle screening aggregate whipsawed violently last week. Notably, it made both a xxxx high and a xxxx low within the space of two days. The pattern is now xxxxxx for both the short term and intermediate term (non subscribers click here to access).
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.