99 Calendar Day Fast Move Coming
BULLISH Outlook Reissued
The challenge I face in employing cycles analysis as a newsletter author, trader, and money manager is that there are inherent variances in any form of data analysis which are difficult to predict. A 79.6 trading day cycle may be “due in the February 9, 2015 time period” but it can, of course, occur a few days left or right of that ideal targeted date. Late last week I observed weakness in the overall market with an eye on a clustering of cycles I had identified for the February 9, 2015 time period. In my January 30 UPDATE, I advised a NEUTRAL position with the awareness there was potential market risk over the course of the next week. But on Monday, February 2, the markets pushed lower intra day, reversed, and have been off to the races on the upside ever since. My analysis and risk management were sound, but the cyclical turn, we now know, occurred five trading days ahead of my ideal targeted date. Long story short, the markets are powering higher – enroute to new highs – and it’s time to get back on the BULLISH bandwagon.
From here I’m looking for what W.D. Gann would call a 99 calendar day fast move. An accelerated surge higher. I don’t think this market is going to give up much ground. I expect new highs in the popular averages – the Dow, S&P, Transports, NYA – very soon.
Each month, Stan Harley publishes The Harley Market Letter, a newsletter that provides advanced technical analysis of stocks, bonds, and precious metals. This is the latest update to the Harley Market Letter for February. Want to learn more from acclaimed market analyst Stan Harley? Visit his site and subscribe to the full Harley Market Letter.
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