Tag Archives: weekly cycle

S&P 500 Cash Index Cycle Location

We were watching the S&P 500 2478 target very closely.  It made a high @ 2477.62 on the 10th day on 07/20/2017 in the 4th daily cycle.  It was also in the 13th week in the weekly cycle, that is well within the top timing band in terms of the weekly cycle.  It’s too soon to tell if this 2477.62 high

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S&P 500 Cash Index Cycle Location

pricentime

S&P 500 and Dow Jones Industrial Average both make a new high on July 14, 2017 while Nasdaq failed to do so.  Nevertheless,  the general market is extremely bullish despite the fact that the important banking sector was left behind.

It is 12 weeks into the current weekly cycle that started on April 13, 2017.  The important target at 2478 is about 20 points away.  We believe the market is going to spend the next few weeks trying to achieve the target, maybe a little over.  But this is close to the end of the rally that started in February 2016.  Tech and banking both failing to move with the general indices is a very important clue of the fatigue, that may lead to a meaningful correction.

We at PricenTime.com view this is a good opportunity to take profits.  We are not afraid to stay in cash when the market is so overbought.  We do hold open positions that are in special situations, which maybe less affected by the general market selloff.  Stay tuned.

S&P 500 Cash Index Cycle Location

pricentime

The indices had a selloff today.  Nasdaq was the weakest among all three major indices.  The only sector winning was XLF, the banking & financials sector.  The selloff was not as severe to start to initiate short positions as the markets have been so strong that the shorts have lost a lot of money.  But a correction has been long over due

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S&P 500 Cash Index Cycle Location

pricentime

The S&P 500 Index survived the large range day correction on may 17, 2017.  It extended the first daily cycle to be 24 days.  Now it is 7 days into the second daily cycle.  This new weekly cycle started on April 13, 2017 is on pace to fulfill the upside target at 2478. 

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S&P 500 Cash Index Cycle Location

Mr. Market just had very boring eight days.  The trading range was about 18 points for eight days!  Today it broke the previous weekly cycle fractionally.  Nasdaq broke the previous high two weeks ago while Dow Jones hasn’t had a breakout.  Can we trust the S&P 500 breakout?

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