The damage has been done. It is confirmed that we are in the 4-year cycle high to low selloff phase. A 4-year cycle high to low selloff can last anywhere 3-9 months or 2-3 years. We will get more clarity after the quarterly closing on October 31, 2018.
The DOW had an inside day on last Friday and it was also an inside week. But the DOW was able to close firmly above the 30-week MA while all the other indices closed below it. The market is appearing to be temporarily stabilizing by having an inside week.
The stock market has suffered major technical damages across the board last week. Historically midterm election years Octobers are downright stellar. These Octobers have been a time of turnaround, with 12 post World War II bear markets ending in October, including the most recent, 1987, 1998, 2001, 2002 and 2011. Is the 2018 midterm election […]
The severity of the selloff today has changed the outlook of the market. The important question right now is how long and how deep will the correction last. Is it time to get out the market? We are going to look at different indices an stocks to try to make sense of the madness. You […]
Finally the DOW made an outside reversal week on 10/05/2018. This is the start of the seasonal correction. It is 14 weeks into the current weekly cycle that was started on the week of 06/29/2018. This correction against the January 2018 high does appear to be a selling off of a double top. You […]
The market continues to be resilient. The DOW had an inside bar last week on the 13th bar. The cycle oscillators are turning down signaling an upcoming mild correction. Underneath the general market, the banks and housing sectors are really weak. You need to login to view the rest of the content. Please Login. Not […]
