Cycle Shifts to Bullish
All of the U.S. stock market indices show a bullish cycle starting, with most of the S&P 500 SPDR sectors confirming. The large indices like the NYSE Composite, Nasdaq Composite and Wilshire 5000 all show similar changes in their cycle.
Wilshire 5000 Bullish Cycle
The Wilshire 5000 is turning higher, illustrating how these 5000 stocks can be interpreted as oversold. At cycle lows, as we have now, we watch for confirmation. Once the cycle turns to bullish, we’ll have an opportunity to get more aggressive.
Bulls can begin the process of scaling into new positions, as the cycle becomes more obvious. Seasonality will add to the speed of the turn, as July historically leads the market in bullish activity.
Now we wait for the turn as S&P futures bounce off the pre-market lows. Anticipate volatility today.
We’ll be LIVE to discuss all of the indices and sector charts, exploring their individual cycles during the LIVESTREAM broadcast this morning.
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