Tag Archives: weekly cycle

S&P 500 Cash Index Cycle Location

pricentime

We are finished with the slow and painful sideways correction!  A new weekly cycle has started since April 17, 2017.  Where is this new cycle going to lead us to?  Before we forecast the new cycle, let’s examine what has happened.  The cycle does what it always does, it pays no attention to the noises.  The hidden cycle is always there for us to find the clues.

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AMD in Bottom Timing Band

AMD has been in selloff mode since the high at 12.42 made on 12/28/2016.  It has been 13 trading days since the top.  It traveled from 12.42 to 9.42, about 24% decrease.  Today’s drastic rally from 9.42 indicates strong support from this level.  9.42 is between 38-50% retracement of the weekly cycle.  It is in an ideal location for a band

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SP 500 Cycle Location Update

We were at the 10th bar in the 3rd daily cycle.  The last nine trading days have been range bound between 2254.25-2282.10.  The high @ 2282.10 established on 01/06/2017 has not been violated.  Violation of 2254.25 on the downside will indicate the selling pressure is picking up.  The selloff will last at least until Jan 26, 2017 to be around 2200 price level.

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Frankly, We Don’t Give a Damn About News

Why didn’t Bank of America’s stock go to the moon after reporting fourth quarter beat the earnings expectations?  Not only it beat the earnings expectations, BAC also provided very rosy outlook for the first quarter of 2017.  The market didn’t care.  It was promptly sold off against a prior cycle high. 

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$DRG Drug Sector Under Assault

On January 1, 2017, we at PricenTime.com advised that the six-year old drug sector has been in correction since August 2015.  The bounces were temporary reaction from the election.  This sector will be under renewed pressure due to the open attack from President Elect Trump.  The underlining causes of the decline have been revealed and that will further propel

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