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Nowhere to Go but Up

There’s no sign of meaningful downside from the cycle picture, even though a late 6-month cycle down phase remains a possibility. Here’s what to look for next.   Non subscribers click here to access.

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Cycles – The 10-12 month cycle projection has risen to xxxx. The high is ideally due xxxxxxx-xxxxxxxx. A 6-month cycle low is ideally due on xxxx xxx. A down phase hasn’t materialized. While there’s still time, it may not, due to xxxxxxxx xxxxxx xxxxxxxxxx in April.   Non subscribers click here to access.

Third Rail – . The SPX could be making a double top, but Thursday’s high exceeded the earlier high by a hair. If they’re going to top out, they usually miss by a hair. The odds favor xxxxxxxx xxxxxxx xxxxxxxxx xxxxxxxx. If they take out the high, there’s immédiate clearance to xxxx, rising to xxxx at the end of the week.   Non subscribers click here to access.

There are a couple of trend support lines at xxxx-xxxx on Monday which would need to be broken for a pullback to happen. The first support area is at xxxx. Only if that’s broken would we get the beginnings of a bigger top pattern.   Non subscribers click here to access.

Long-Term Weekly Chart – 3/24/24 An updated 3-4 year cycle projection now points to xxxx, ideally due in 2025.   Non subscribers click here to access.

Monthly Chart – A strong March turned long-term momentum to the buy side, signaling a likely 7-year cycle up phase. The top of the uptrend channel is around xxxx in April. If cleared, the next trend resistance and target would be roughly xxxx. The upper channel line would become support. For now, xxxx is support.   Non subscribers click here to access.

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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. 

Posted in 2 - Technical Trader