The 20-wk cycle had the effect on the market which was expected of it. While there should be a temporary reprieve in the correcting process as this cycle reverses, the 67-wk cycle (whose low is due in a few weeks) should extend the...
SPX started a correction after it reached the 2400 target. Until now, it was not certain if it wanted to continue to the 2410 extension before correcting. Friday’s action strongly implies that it is preparing to continue the corrective...
Filling the 2400 count has caused the expected profit-taking, which sent SPX into a quick retracement of 45 points. This brought it to the trend line from 2084 which must be broken before we can extend the correction into something more...
SPX has reached its primary objective of 2400 and pulled back. There is a 2410 adjunct which could still be reached if the index can regain its upside momentum starting Monday. The daily indicators have still not given a sell signal, and...
Renewed stock market momentum beyond the SPX 2300 projection target has brought about and extreme in bullish sentiment which normally calls for a correction. IF, as a cycle analyst is forecasting, we are approaching the peak of the 17-...
“Don’t fight the trend” is a cardinal rule of technical analysis! When SPX reached its 2300 projection, it was expected to pull back, helped by divergences which were showing in various time frames and by topping intermediate cycles...
After Monday’s sharp drop, SPX held at an important short-term support level and rallied after the jobs report came out on Friday. This move is essentially a test of the high, but it could expand into more distribution which could even...
After Monday’s sharp drop, SPX held at an important short-term support level and rallied after the jobs report came out on Friday. This move is essentially a test of the high, but it could expand into more distribution which might even...
SPX has filled the P&F count which was established last February, at the 1810 low. It would now be normal for the upside momentum derived from last week’s run-up to 2300 to dissipate, as a distribution top is being created. This,...
Last week was not decisive since SPX continued to trade in a narrow, volatile range. The coming one should be if on Monday we rally into a 15-day cycle top and reverse on Tuesday without having reached the ultimate 2300 projection. In...