Short term view - I expect the indexes to open lower, but Monday afternoon or Tuesday to turn up.
Intermediate term view - just waiting....
Another week.... complete waste of time:) Lets face it 4 months waste of time... not really something to trade unless you are a day trader.
Nothing new, below the charts updated.
So far the forecast were ok we did not fall into bull or bear traps... but I will lie to you if I tell you how and when this mess will end.
To be honest - I am sick and tired from this shitty price action.... come on pick a direction mister market.
Short term - I do not believe in 1-2 i-ii it has never worked during this bull market. Even if we saw already an intermediate term top, I expect the indexes to visit the 2085-2090 area one more time.
Intermediate term - no change
Long term - no change
MARKET BREADTH INDICATORS
The Market Breadth Indicators - no edge or clues... Weekly Stochastic of the Summation Index is pointing to a bottom. The others does not really point to a top too.
McClellan Oscillator - nothing interesting.
McClellan Summation Index - nothing interesting.
Weekly Stochastic of the Summation Index - in oversold territory, we are close rather to a bottom than a top.
Bullish Percentage - sell signal, but nothing bearish.
Percent of Stocks above MA50 - oscillates around the middle of the range
Fear Indicator VIX - nothing interesting. Long term series of higher lows indication that something bigger to the downside is coming.
Advance-Decline Issues - oscillates around the middle of the range
A new 40 day cycle is running or if we see a new low I will move the low for the 40 day cycle... waiting
Week 9... I am waiting to see how the low of this cycle will look like. It is possible that it is of a lower degree.
Tom Demark SEQUENTIAL AND COUNTDOWN - this technique spots areas of exhaustion.
Nothing interesting with this choppy moves....