DAILY STOCK MARKET FORECAST

"Today's stock market forecast"

It appears that the mid August rally came earlier than the Barometer models had predicted.

The previous study indicated that the stock market would be positive and would move mostly sideways until mid August when the March rally would ramp up on a new leg up. (see the downward-sloped-line pointed to by the green arrow).

The models indicated that the market would move mostly sideways and then rally.  But the Bulls didn't want to wait till mid August and sent stocks ramping up in July.

Now the models are showing a new problem that is indicated in the chart above with the yellow line, the Barometer-plot, shooting straight up.

Normally, trading sessions, over a period of time, show a consistent pattern.  If you look at the chart closely, you will see patterns develop over time.  And when you see a break in the pattern, you can bet something is going to happen.

The almost straight up Barometer-plot (yellow line) near the green arrow (right side) indicates a break in the pattern and we could be looking at a top building.

A top will come sooner or later.

This particular chart is updated daily but not published on the website routinely, for security reasons.  However, there is a similar flash chart that is displayed daily, located in the Market Snapshot section.