FOR THURSDAY: (4/19) Stocks took a rest on Wednesday and cycles are still friendly into Thursday so we’ll give them another day to breakout to the upside. Gold and crude cycles are still friendly into Sunday.
S & P ANALYSIS FOR THURSDAY: (4/19) Entries were in profits various points of the day but the market couldn’t take out 2720. Cycles are positive on Thursday, but we always have to be careful with choppy/toppy patterns. If the market can’t take out 2721 on Thursday, we’ll move stops up tightly if we hold into Friday. We still didn’t get a 17-point correction, which means at 2701.50 can hold before a possible breakout to 2748.50.
CYCLE SYNTHESIS: Higher into Thursday.
