I analyze macroeconomic issues from a fundamental perspective, and I analyze market behavior from a technical perspective. Original macroeconomic analysis can be found here and both macro analysis and commentary can be found on my Caps blog. If you like or appreciate my analysis, please add yourself to my Following List

Tuesday, July 24, 2012

July 24

The projection for the continuation of the move up that I discussed on Wednesday and the subsequent turn seems to have worked out. So with that a sell signal (sub-cycle top) was issued on the 60-minute system on Friday and we finally got a Down Cycle signal today on the 60-minute system to correct the Up Cycle signal that began on June 8. This was a pretty average Upcycle duration and so if we have an average Downcycle duration, it will last somewhere around 15-20 days.

Based on the performance of the 60-minute system this year, feel free to use that as a contrarian indicator if you wish :)

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