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Tuesday, August 15, 2017 3:16:24 PM
Lindsay’s Market Analysis: Intermission
By Ed Carlson | August 15, 2017
Following the Lindsay’s Market Analysis:
Last week’s Market Update – Showtime! – announced that the time had come for a sell-off in equities and we were not disappointed as the Dow lost over 234 points (worst week since March). Internal indicators now point to a pause in the decline. It’s now time for a short Intermission.
One of those indicators is the total number of unchanged issues divided by the total number of issues traded (NYSE). It reached a low on Thursday indicating a low in equities.
A 21-week cycle low is due the week of August 21 (solar eclipse!). Unless equities reach the 38.2% retracement of the 2016 rally near 2,220 by then, I doubt that will be the end of the decline. Rather, it will likely be the beginning of an intermediate bounce in a bigger seasonal decline.
http://seattletechnicaladvisors.com/blog.html
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By Ed Carlson | August 15, 2017
Following the Lindsay’s Market Analysis:
Last week’s Market Update – Showtime! – announced that the time had come for a sell-off in equities and we were not disappointed as the Dow lost over 234 points (worst week since March). Internal indicators now point to a pause in the decline. It’s now time for a short Intermission.
One of those indicators is the total number of unchanged issues divided by the total number of issues traded (NYSE). It reached a low on Thursday indicating a low in equities.
A 21-week cycle low is due the week of August 21 (solar eclipse!). Unless equities reach the 38.2% retracement of the 2016 rally near 2,220 by then, I doubt that will be the end of the decline. Rather, it will likely be the beginning of an intermediate bounce in a bigger seasonal decline.
http://seattletechnicaladvisors.com/blog.html
• DiscoverGold
Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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