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"High point for this cycle"


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#1 Rogerdodger

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Posted 21 November 2021 - 01:22 PM

Mike Burk

"High point for this cycle"
Last Thursday the S&P 500 (SPX) closed at an all time high and last Friday the NASDAQ composite (OTC) closed at an all time high.
There were no confirmations of last week’s all time highs by any of the breadth indicators.

"Decision Point Charts" on SPX
"Short-Term Oscillators": have turned down and are below zero
"Intermediate-Term Oscillators": Breadth and Volume Momentum Oscillators are positive but have crossed down
"McClellan Oscillators": are positive but have turned down
The previous week's AAII bulls were at their highest since since late June but dropped a bit last week.

The NYSE and INDU are both below their Oct 30th price!

(When I posted caution on the "meaningless" CNN Fear and Greed index.)
Rogerdodger, 30 Oct 2021


Then there's the Monthly NYSE 7 Year Cycle chart looking as toppy as it has at it's previous 3 tops
But if massive amounts of free money keep flowing, "Don't fight the FED!"

NYA-Monthly.jpg


Edited by Rogerdodger, 21 November 2021 - 01:25 PM.


#2 Rogerdodger

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Posted 23 November 2021 - 01:55 PM

NYSE on life support here. Get the cardiac paddles ready.

 

NYA-Daily.jpg



#3 12SPX

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Posted 23 November 2021 - 02:24 PM

I notice that it looks like the market peaked before the cycle before do you think that's the case here??



#4 Rogerdodger

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Posted 24 November 2021 - 06:20 PM

My opinion is worth what you pay for it.

With that said, I lean toward a trading range for a while unless we get some black swan type of news.

 

I could see an eventual breakdown of support to get bears excited, then a bear roast rally which could be sold.