Monthly Archives: February 2017

Long $FCX Now

It’s time to open 1/3 FCX long position.  It’s not confirmed the bottom at 14.01 yet, but the intraday behavior indicates the likelihood of coming of the weekly cycle bottom from here.  The absolute stoploss is 13.13.

$CLF Weekly Cycle Location

CLF had a great earnings release and the market rewarded it handsomely.  It took out the previous weekly cycle at 10.90 without any hesitation.  It is currently only in the 2nd week of the weekly cycle.  Right now it is 14th day into the daily cycle.  It is in the correction phase to digest the overbought condition that was caused by the

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$BAC Recent Breakout Not Trustworthy

We are long term bullish on BAC.  We published a blog on BAC 2009-2016 multi-year breakout on January 6, 2017.  But the recent breakout at the 15th week in the weekly cycle is not trustworthy.  We believe this breakout pattern will fail due to the cycle position (too late in the game).  In a week or so it may fall back into the range again.

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$FCX in Weekly Cycle Bottom Timing Band

It’s been 18 weeks since the last FCX weekly cycle low was made on 10/14/2016 at 9.24.   This cycle clearly took out the previous cycle high at 14.06.  And FCX has made a higher high in this complex weekly cycle.  It has a clear alpha high and beta high.  All signs point to a continuation of the up trend. 

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SP 500 Cash Index Cycle Location

The S&P 500 cash index continues to press higher despite the negative news coverage about the new white house administration.  The value line geometric index broke out a 17-year old triple top on February 13, 2017.  The value line geometric index doesn’t get the headlines like the Dow Jones Industrial average, but it is the true representation of the real US economy.

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