The timing methods point to a market low now:
- October 27th is the average low in any year
- The end-of-month period of strength is in effect
- It is also a low in the 1-4-10 year cycle
- One of the most bullish and reliable cycles is the 15 months beginning with the mid-term elections. There are 2 more months to run in this consistent cycle.
I must add that the market technical condition is not strong, but the cycles point up.
The Cycles Research stock screen identifies stocks that are strong both in terms of relative strength and cycles. The NASDAQ
NDAQ
NVIDIA
DIA
NVIDIA Daily
NVIDIA Monthly Expected Return
NVIDIA Weekly Cycle
Amazon is ranked third in the screen. In terms of expected return, November has been the second strongest month of the year. The monthly graph is revealing. Note that this is one of the few tech giants that is not very overbought. In addition, a three-year relative strength downtrend has been reversed to the upside. The $145-$150 area is a near-term target.
Amazon Monthly
Amazon Monthly Histogram
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