According to my risk summation system, the day this coming week with the highest risk of a turn in or acceleration of the current trend is Thursday March 18th. These is also a risk minimum on Tuesday the 16th which can sometimes tag turns as well.
Last week the nebulous risk window that I noted spanning Tuesday and Wednesday only marked a brief hesitation in the DJIA march northward and evaporated into a dud. The jury is still out on the Friday the 12th risk window. If the DJIA turns down from the open on Monday, it could have tagged a top, otherwise it too was a dud and will make it zero for two, not exactly a stellar performance for the system.
Soap box: Lumber prices which comprise something like 6% of the total cost of a lot & home have risen 150% in the last twelve months. Sugar is up something like 30%. Corn is up 40%. Wheat is up 20%. Gasoline is up 30%. How in the $%?& is inflation, according to the Helen Keller economists at the BLS, only up a couple of percent? I know you can substitute chicken for beef, but what are you going to substitute for a 2x4? Figures can lie, but mostly liars can figure I suppose. Inflation is raging and 1.9 trillion dollars hitting the fan ain't going to make it go any lower. It's a simple matter of supply and demand. More money suddenly hitting the system is demand. Shutting down fracking and crude pipelines and continued covid fear is reducing supply. It doesn't take a math genius to figure out what's going to happen.
Edited by Douglas, 13 March 2021 - 02:14 PM.