Midweek Market Update – Sep 30th
This content is for members only
Bob Loukas is the founder of The Financial Tap. With over 20 years of experience in market analysis and trading, Bob is a life-long student of economics and has an abiding passion for the financial markets.
He is a leading expert in Market Cycles. His love of Cycles emerged from the study of the work of Walter Bressert, a pioneer in the field.
Originally from Sydney, Australia, Bob has been settled in New York City for the past 16 years. His background is in Computer Sciences, with extensive experience in the Financial Software arena. Prior to launching The Financial Tap, Bob served as a senior executive at various Fortune 50 firms where he led development of financial trading and reporting software.
This content is for members only
If you sign up for the Quarterly recurring membership with the coupon code Half, you will receive 50% off and pay just $49.50 for the first three months ($16.50 a month!) of membership. This offer is available to new or returning members only.
This content is for members only
This content is for members only
In this particular case, I have maintained for a number of weeks that the markets were in the earlier stages of the Investor Cycle, meaning that the Aug 24th lows would eventually be exceeded. That would involve a pattern where the markets recovered back towards the prior breakdown point near 2,044, and then continue lower. Two days of sharp declines are not confirmation, but that was an ugly end to the week and the odds of that expected pattern playing out, i.e. a continuation lower, have greatly increased.
This content is for members only
This content is for members only
This content is for members only
This content is for members only
Last week, Crude put in one of the best single week rallies on record. Such a move was obviously not the result of bargain hunters or demand buying; it was driven purely by overly-leveraged speculators covering Short positions as the market turned higher. Once such moves get going, they often take longer than six sessions to resolve, so I expect that Crude will continue higher in the coming week as traders continue to cover their Shorts.