Friday’s rally felt impressive on top of last week’s backing and filling. But the technical indicators haven’t kept up. That could all change on Monday, but as of Friday’s close, there were still plenty of reasons for skepticism.
Cycles- The expected 13 week cycle up phase is xxxx xxxxx . But it’s not yet clear if it will have enough momo to xxxxxxxxx xxxx xxxx xxxx xxxx 6 month cycle down phase. Monday’s action could go a long way toward answering that question. The 6 month cycle projection has dropped to xxxx. I’ll respect the projection until the market clears resistance at xxxx. Non subscribers click here to access.
Third Rail A new uptrend channel centerline rises from xxxx to xxxx this week. They’d need to at least break that to signal an end to this phase of the rally. Non subscribers click here to access.
There’s a trend resistance convergence around xxxx. If cleared, they’d have running room for an immediate move to xxxx. If not cleared, then keep an eye on the downtrend line that drops from xxxx to xxxx this week. Likewise, dropping below xxxx would suggest a fast move to at least xxxx, and if that breaks, then to xxxx. Non subscribers click here to access.
Long Term Weekly Chart – The 18 month – 2 year cycle is has a projection of xxxx, and an idealized bottoming window that starts xxxx and lasts through xxxx xxxx. The 3-4 year cycle has a huge likely bottoming window from xxxx until xxxx xxxx, with a current projection of xxxx to xxxx. Conclusion, anything goes, with the least likely outcome being a xxxxxx xxxxxxx xxxxxx xxxxxx soon. Non subscribers click here to access.
Monthly Chart – Long term momentum has reached a critical level that could either indicate a major bottom if it turns up, or a secular bear market if it continues lower. Non subscribers click here to access.
Cycle Screening Measures – Still negative overall but with potential early warning signs of a xx xxxx xxxx xxxx forming over the next 2-3 weeks. The setup could xxx xxxxx xxxxxxx. A little weakness early this week xxxxxxxx xxxxxxx xxxxxxxx. 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.