12 thoughts on “MARKET WRAP – STOCKS AND OIL

  1. jhmoffett

    Gary — could Thursday have been a shallow DCL for the stock market with a swing low occurring on Friday?

    1. Gary Post author

      I think it was way too shallow to be a natural DCL. DCL’s should reset sentiment and nothing yet has done that.

      But that doesn’t mean the PPT can’t keep propping up the market.

    1. Vagabond Trader

      It looks like the above dates have flipped so now looking for a LOW around the 19th of September. Let it ride.

  2. ras

    Sometimes, technical indicators including cycles , which have been working for a while may stop working. That is the nature of the market. There is no perfect indicator. All indicators fail at times.

  3. Baud

    Looks like Oil recovered some of those losses this evening. What a difference a day or two can make. 😀

  4. Alexandru Popovici

    A solid correction will come in Q1 next year as the YCL will be charted.
    But now, a shallow DCL and stocks advance in spite of strong selling on strength and Russell’s and transports’ leads are indicative of a runaway move that is worth riding this month.

    Then a strong dailly cycle decline will ensue in the beginning of October followed by a final advance into December.

  5. chrisG

    Exactly Alex. I think Gary is wrong in thinking a 31.8 retracements is happening in Sept. SPX as long as it did not make a lower low, it’s safe for this rally. This month will likely rally. After a small correction , continuation til next yr. This period could be the period where tech stocks, Hk, China stocks, gold silver stocks, oil stocks, toilet bowl stocks, bath tub, kitchen sink stocks all rally together!

    Next year, post first quarter, time to be super defensive. The year of “7” is coming. But let’s enjoy this super bull first

  6. Steffmeister

    India is looking superstrong long term, maybe a long rising trend for 15years.

    japan looking superweak, they are running on fumes with QE25 by now. Watch out for a collapse of the NIKKEI in 1,2-3years time

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