The cycle setup this week is a picture of juxtaposition, with the edge to the bulls. That’s because a hybrid of the two longer cycles seems to be in the bottoming process here. But short term cycles are mixed and opposed to one another. That suggests that the market won’t be able to get out of its own way. xxxx is more likely than a xxxxxxx xxxxxxxx.
Third Rail Channels – The market is “triangulating.” XXXX is the critical level. A close above that would open the way for a move to the XXXX area. On the other hand, a close below XXXX on Monday would keep the sharpest downtrend channel intact. Non subscribers click here to access.
Long Term Weekly Chart – A weekly close above XXXX this week would signal a 6 month and possible 10-12 month cycle upturn. The target would then be around XXXX. Non subscribers click here to access.
Long term downside cycle projections have already been reached but it’s too early to conclude that these downside projections are final. I will give more weight to classical technical indicator positions and trends such as a conventional measured move target of xxxx-xxxx. However, a 6 month and 10-12 month cycle up phase should xxxxx for a xxxxx xxxx xxxxx xxxxx lasting into xxxxxxxxxxxxxx-xxxxxxxxxxr. Non subscribers click here to access.
Monthly Chart – Breaking xxxx in July could send the SPX hurtling toward the next major support line at xxxx. Conversely, if they stay above xxxx, there’s room to run to around xxxx in July. Non subscribers click here to access.
Long term momentum remains on a sell signal and is now sitting just above the bottom of a 3 year uptrend channel. Closing any month below that line would be another long term bearish signal. .Non subscribers click here to access.
Cycle Screening Measures – The short term pattern is xxxxxxx. The intermediate pattern has bipolar disorder. I’m a liquidity analyst, not a shrink. I won’t try to make sense of it. However, a couple of the moving average indicators for these measures are now at pivotal points on their charts. If this morning’s market xxxxxxxx xxxxxxxxxx xxxxxxxxx xxxxxxxxx xxxxxxxx. If this rally is a bottle rocket and the market ends lower through Tuesday, the xxxxxx xxxxxx xxxxxxxxx xxxxxxx . 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.