Wednesday, May 16, 2018

charts: Picasso Cycle Update

In this update only the date/s will be mentioned with an "H" for high and a "L" for low.
The chart amplitude can and will be misleading at times.
In addition, it is the date/s that is most important rather than if that date is a projected high or low.
One important reason is because in some cases a date may invert and the "H" or "L" may not mean anything.
A low may actually turn out to be a high and visa versa.
Also it is very important that other tools always be used to confirm any potential ST Cycle Date. 

Picasso Dates, always +/-  --->Today the dates are being replaced with a chart   



Courtesy of ChaikinAnalytics.com
Courtesy of ChaikinAnalytics.com
Note that in both the DIA & SPY charts above price is below the moving average and below the upper trading band.  Also the Overbought/Oversold indicator is Overbought and the Relative Strength is weak.  This comes at a time when the Picasso ST Cycles "suggests" a high this weekend.  Please read the notes on the cycles chart to better understand how to read it.  
In addition, note that the Cycles chart called the last low and rally since that low.

Comments:

Long term indicators appear positive, so far and the ADL just made another new ATH.   The LT cycles suggested a low in August +/-, which we had, & a high in late November/early December and this suggested highon the LT Cycles chart kept moving forward until it stopped dead on Jan. 17,2018.  Shortly thereafter, the stock market slide 10%+/-.
-Looking out into 2018 the Picasso LT cycles still suggest a mid year low.
-This also coincides with the four year Presidential cycle (2017-2020) where there is usually a low in the second year, (2nd yr is 2018), and a high in the third year, (3rd yr is 2019).  It is widely known that the mid-term years are the best years for the stock market.  
***Keep in mind that nothing works 100% of the time!
The "key" is to be able to recognize when the second year low is in and when the third year high is in. 


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This has been posted for Educational Purposes Only.   
Do your own work and consult with Professionals before making any investment decisions.  
Past performance is not indicative of future results.

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