Replies to post #23387 on ajtj99's Market Pulse

[ajtj99]

NYTT, the market usually tops in early summer during the presidential election year cycle. That works with other cycles and charts as well.

[NYTT]

"We should begin retreat tomorrow, or Wednesday. After that I expect market to come back up to make another new high, which will be the final top."

We got the retreat, and we got the run back up, only that it failed to make a new high.
In the past a few days we had some earnings missed and some earnings exceeded. If market wants to go up, it should make a new high on Thursday. The weak reaction to good earnings tells that market wants to go down.
Market always swing between extremely bullish and extremely bearish. NAMO has peaked and now points down, which suggests we have passed the peak of a cycle and now entered the down trend phase.