DJ Transports Leading Rebound
02/13/16 Weekly Re-Lay: “Stock Indices dropped back to their lows and are attempting to rebound again… consolidating above their Jan. 20th lows. Most Indices retested those lows, fulfilling & resetting the daily trend patterns. That also (initially) fulfilled the weekly 2 Close Reversal sell signals, after triggering a sharp spike down to monthly support & within a few points of the weekly HLS levels (extreme downside targets) in many Indices.
While that was unfolding, the Transports pulled back for a day but did not even neutralize their daily uptrend. As a result, the Indices could again rebound to 2–4 week resistance and to their early-Feb. highs…Stock Indices fulfilled their daily trend patterns and projected a new bounce.”
Stock Indices bottoming a week early, after retesting & holding lows. That fulfills expectations and reinforces Jan./Feb. ’16 cycle lows – that look ahead to June 2016for the next monthly cycle low. Next danger period could arrive in April 2016.