A number of technical signs say that the bulls have the upper hand here. But those signs aren’t uniform. And I don’t trust them because they violate the First Commandment of Investing. Thou shalt not fight the Fed. Prepare to meet thy maker if thou dost.
Cycles- Multiple cycles look to be headed in xxxxxxx xxxxxxxxx over the next few months. xxxxxx the probability of a near term breakout xxxxxx xxxxxxx xxxxxx xxxxxx. Non subscribers click here to access.
The 10-12 month cycle has ideally entered a xxxxx phase lasting through December. Any strength this week would indicate xxxx xxxxxx xxxxxx that could carry back to the xxxxx-xxxxxx range before a xxxx in this cycle. Non subscribers click here to access.
On the other hand, any xxxxxx xxxxxxxxxxx this week would suggest that this cycle is topping out now. Non subscribers click here to access.
Meanwhile, 6 month cycle indicators are on the razor’s edge of confirming that xxxxxx xxxxx xxx x xx. Any xxxxxx this week should trigger clear xxxxxxx signals. Non subscribers click here to access.
Long Term Weekly Chart – A weekly close above xxxx would break the 6 month cycle line, signaling an up phase in that cycle, with an initial target of around xxxx on this chart. Failure to be clear of xxxx at the end of the week would suggest that the 6 month cycle down phase remains intact. Non subscribers click here to access.
Monthly Chart – Trend resistance will begin November at xxxx, after it appears that the SPX will end October above expected resistance around xxxx. Non subscribers click here to access.
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 – The cycle screening aggregate plunged into negative territory, but it did not break the bullish short term or intermediate term patterns. The market would need to weaken further this week for that to happen. None of the negative divergences have formed that typically precede a significant downturn and moving average and cumulative versions of these indicators remain mildly bullish. 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.