All hell has broken loose overnight on Sunday night, Monday morning. The S&P futures are already trading at 3820, which is the bottom of the broad intermediate downtrend channel on this chart. The May low has already been broken on the futures. This market is going lower.
Cycles- If the market stays below xxxx this week, it would mean that the slopes of t he bigger waves are accelerating to the downside. The 6 month cycle lower edgeband will be at xxxx this week. Non subscribers click here to access.
The 13 week cycle should have a dead cat bounce at some point this week. Short term cycles are due to xxxxx xxxx this week. But any xxxxxxx should be followed by xxxx xxxxxx xxxxx over a protracted period. Non subscribers click here to access.
The 6 month and 10-12 month cycle projections point to xxxx-xxxx. There’s no 13 week cycle projection yet. The 4 week cycle projection points to xxxx. Non subscribers click here to access.
13 week and 6 month cycle lows are ideally due in xxxxxxxxxxxx. Any rebounds before that should be xxxxxxxxxxxxx xxxxxxxxxxx. The downtrend must be xxxxxxxxxxx xxxxxxxxx xxxxxxxx. Rule Number Two – The trend is your friend. Non subscribers click here to access.
Third Rail Channels – There are two critical support lines around xxxx. If the market breaks xxxx, this could turn into something the likes of which we have not seen since October 1987. Non subscribers click here to access.
Long Term Weekly Chart – The market is headed for a test of major support in the xxxx-xxxx range this week. Breaking that range would imply a long term measured move target of xxxx-xxxx. Non subscribers click here to access.
Monthly Chart – The target should be approximately xxxx. Non subscribers click here to access.
Cycle Screening Measures – The cycle screening aggregate crashed last week. This breaks the previous short term and intermediate term bullish patterns. 6 month cycle measures are both firmly on the sell side. This will take some weeks to repair, and it is likely to get worse before that repair begins.
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.