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Is the Major Market Top in the Rear View Mirror?

50 Moving Averages Testing Support Since topping-out on December 5, the popular averages have begun to cascade down in pristine fashion. The DJIA, the DJTA, the S&P 500, the NYA, the RUT, the
  • 2 min Read

By Stan Harley

Studying the chart history of any stock, index, or commodity will reveal that each market has a series of cyclical profiles that affect price movement. Cycles are the essential factor in forecasting how long a trend should run and when to expect reversals. Their understanding and exploitation provides an overwhelming edge to the successful trader. Stan Harley’s technical expertise encompasses market cycles – their mathematical derivation, real-time tracking, and exploitation for investment and trading. He will demonstrate that cycles have their root derivation grounded in Fibonacci numerology. Stan will provide attendees with the mathematical tools he uses to calculate – and forecast – cyclical highs and lows and be prepared to buy or sell. Throughout our discussions, Stan will present a comprehensive discussion and analysis of the key cycles in the stock, bond, precious metals, and housing markets. Stan Harley’s career has spanned investment advisory services, defense/aerospace, and military service. A California registered investment adviser since 1991, Stan publishes The Harley Market Letter, which employs advanced technical analysis of the stock market, bonds, precious metals, and other sectors of interest. The Harley Market Letter has been ranked by Timer Digest as Stock Market Timer of the Year and Bond Market Timer of the Year in 1998, 2001, and 2010. Mr. Harley’s work has been featured in Barron's, Investors' Business Daily, The Los Angeles Times, Technical Analysis of Stocks and Commodities, and other national media publications. Stan is also a frequent guest market analyst on radio, television, and streaming internet audio/video web sites. He can be reached at (805)-484-4258 or e-mail [email protected] Information can also be found at: http://www.harleymarketletter.com/.
Studying the chart history of any stock, index, or commodity will reveal that each market has a series of cyclical profiles that affect price movement. Cycles are the essential factor in forecasting how long a trend should run and when to expect reversals. Their understanding and exploitation provides an overwhelming edge to the successful trader. Stan Harley’s technical expertise encompasses market cycles – their mathematical derivation, real-time tracking, and exploitation for investment and trading. He will demonstrate that cycles have their root derivation grounded in Fibonacci numerology. Stan will provide attendees with the mathematical tools he uses to calculate – and forecast – cyclical highs and lows and be prepared to buy or sell. Throughout our discussions, Stan will present a comprehensive discussion and analysis of the key cycles in the stock, bond, precious metals, and housing markets. Stan Harley’s career has spanned investment advisory services, defense/aerospace, and military service. A California registered investment adviser since 1991, Stan publishes The Harley Market Letter, which employs advanced technical analysis of the stock market, bonds, precious metals, and other sectors of interest. The Harley Market Letter has been ranked by Timer Digest as Stock Market Timer of the Year and Bond Market Timer of the Year in 1998, 2001, and 2010. Mr. Harley’s work has been featured in Barron's, Investors' Business Daily, The Los Angeles Times, Technical Analysis of Stocks and Commodities, and other national media publications. Stan is also a frequent guest market analyst on radio, television, and streaming internet audio/video web sites. He can be reached at (805)-484-4258 or e-mail [email protected] Information can also be found at: http://www.harleymarketletter.com/.

50 Moving Averages Testing Support

Since topping-out on December 5, the popular averages have begun to cascade down in pristine fashion. The DJIA, the DJTA, the S&P 500, the NYA, the RUT, the NAZ Comp – no component of the Big Six has been immune.  This has been a broad-based decline and is indicative of the major top I believe has been seen in the rear-view mirror. I find it noteworthy that the New York Comp – the NYA – has been the weakest among the major indices thus indicating substantial weakness among all stocks that comprise the New York Stock Exchange. The 50 day moving averages – which typically provide support, even temporary support – have all been breached to the downside. It’s conceivable we may see a snap-back to test those 50 day moving averages. Should that happen, this market might tread water – violently sideways – until Christmas before the next heave-ho to the downside breaks the October lows. FOMC meeting tomorrow.  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 December. 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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