The major cycle technical bear case gets to live another day this week. I drew the parameters of the line in the sand last week, and the bulls didn’t cross it. But the bears didn’t win outright either. They need to hold the line this week to continue what may be the onset of a 6 month cycle top process.
Cycles- There are hints of a downturn here but up phases in the two longer cycles could xxxx xxx xxx xxxx xxxx. The 6 month and 10-12 month cycle tops are due xxxxxxx xxxxx xxxxxxxx xxx x xxxxx xxxxxx. Cycle projections remain in the xxxx-xxxx range, implying that the rally will xxxx xxxx xxxx xxxx .Non subscribers click here to access.
Short term cycles are mixed but the 6-7 week cycle was xxxxxxx xxxxxx xxxxxxx , so I’m wary of xx xxx xxxxxxxxxx xxxx. Non subscribers click here to access.
Third Rail – A weekly close above xxxx this week would break the sharp downtrend from last week. However, weakness on Monday would suggest xxxxxxxxxxx xxxxxxxxx. A daily close below xxxx would imply a measured move target of xxxx. Non subscribers click here to access.
If they manage to break out of the downtrend channel, there’s a big resistance cluster around xxxx-xxxx. If cleared, it would open the likelihood of upside to xxxx-xxxx. Non subscribers click here to access.
Long Term Weekly Chart – Last week’s pullback kept the bearish case alive but the S&P still needs to stay below xxxx or xxxx at most, to keep the long term downtrend intact. If it’s broken to the upside, that and other long term indicators could signal the end of the bear market. Non subscribers click here to access.
Monthly Chart – 12/4/22 The rally needs to end December below xxxx, or the bear case will be in trouble, at least in the short run. Clearing that level would imply a target of the trendline at xxxx or the xxxx xxxx of xxxx. Non subscribers click here to access.
Cycle Screening Measures – The aggregate indicator is now short term xxxx, but the intermediate term not so much. The indicators suggest, but don’t yet confirm, that the 6 month cycle has xxxx xxxx xxxx xxxx. They allow for taking xxxx positions, but with protective stops just in case this 6 month cycle xxxx xxxx gets a xxxxxxxx xxxxxxx xxxxxxx topping out. 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.