Downtrend channels are steepening as liquidity dries up, and wave amplitude increases. It is violent, and could be increasingly so to the xxxxxxxxx xxxx xxxx xxxxx (non subscribers click here to access).
Cycles – The 6 month cycle up phase was truncated early. An initial downside projection points to xx-xxxxx (non subscribers click here to access). Both the 6 month and 10-12 month cycle lows are ideally due from xxxx xxxx xxxx xxxx (non subscribers click here to access).
The 13 week cycle low is ideally due xxxx xx to xxxx xx (non subscribers click here to access), with a new projection of xxxx. The 6-8 week cycle low is due xxxx, with the projection range reaching xxxx
The premature failure of the 6 month and 10-12 month cycle up phases have set up a test of a support convergence around xxxx (non subscribers click here to access). Breaking that would suggest a crash that could be similar to that of xxxxxxxxxx, or even worse.
Third Rail Chart – To break the crash they’ll now need to at least break a trendline running from xxxx to xxxx this week (non subscribers click here to access). On the other hand, if they break the February low of 4214 this could xxxx xxxx xxxx, xxxx. Minor support is indicated around xxxx and xxxx. A more likely target would be around xxxx on May xx. But it could just as easily get there by xxxx xxx xxxxxx if the market breaks down on Monday.
Long Term Weekly- The 3-4 year cycle top is nearly complete. A breakdown below xxxx (non subscribers click here to access) would confirm. This also looks like a 7 year cycle top. Confirmation will lag.
Monthly Chart – Trend support broke at the end of April. They’d need to end May above xxxx (non subscribers click here to access) to recover within that channel. Trend support is indicated around xxxx in May. If that doesn’t hold, then the target would be a support convergence around xxxx, with the next target xxxx if that fails.
Cycle Screening Measures – All measures are weak and support a xxxxxxxx xxxxxxx xxxxx term outlook.
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.