Stocks Struggle To Rebound Off Of Intermediate-Term Low
Erik McCurdy | Dec 07, 2012 02:09AM ET
In mid-November , our cycle analysis predicted the formation of a meaningful low in the stock market. The intermediate-term cycle low (ITCL) developed as expected during the week ending November 16 and the rebound off of the low has struggled during the last two weeks, also as forecast.
The character of the rebound off of the latest ITCL will provide the next signal with respect to long-term direction, so it will be important to monitor market behavior closely during the next several weeks.
Additionally, as noted last weekend, the annual cycle from June is on the verge of a meaningful development and a long-term signal could occur as soon as the end of December.
With the intermediate-term cycle and the annual cycle both on the verge of significant developments with respect to long-term direction, it will be important to monitor market behavior closely during the remainder of December.
As we often note, charts do not always have a meaningful message to convey, but it is important to listen to them carefully when they do.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.