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TIME ANALYTICS - Our work as market technicianís involves a few shocks. Some we give to our readers, and a few we face ourselves. These shocks what we give or get are job hazards. Now that the primary cycle is turning, there are some primary price targets that might appear preposterous for our various regional readers, but this is how we see things.

Emerging market currencies like Romanian EURRON and Indian Rupee could strengthen by more than 20-25% till Q3 2010. The latest update on Intermarket CYCLES carry the conventional time cycles and a pair performance cycle between DOW and S&P; 500. The pair illustrates a performance cycle between DOW (blue chips) and S&P; 500 (broad market). In stage 1,3,5 DOW outperforms S&P; and in stage 2,4,6 S&P; outperforms DOW. We have discussed broad market pairs with blue chips. There are few ways to look at these pairs. One is when broad market underperformance reaches an extreme against blue chips (1,3,5) and the second when blue chips underperformance reaches an extreme against broad market (2,4,5). Both cases suggest a bottom, but itís when blue chips start to rise that we see the strongest part of the trend. Now that the blue chips are falling compared to the broad market, markets lack strength. The table illustrates our view.

Market bottoming unlike tops are more like ĎWís than ĎVís. This is why our view on OIL as a corrective remains preferred than otherwise. The OIL cycles (SLIDE 15) suggests another impending dip on OIL. OIL could dip into end of MAY early JUN before hitting primary bottom.

We have illustrated two time frames in the current CYCLES report, intermediate (multi week) and primary (multi month). Though on the intermediate term our LONG-GOLD, SHORT DOW continues to hold, the primary gold cycles still suggest a secular negativity on Gold. This is in sync with the primary up turn in cycles on emerging markets.

The intermediate multi week outlook on Global Indices remain murky. Dow Minor CYCLE is topping and even the primary CYCLE considers the ongoing up leg as a reprieve in an incomplete primary leg down. Barring NIKKEI most other global indices look weak and negative on the respective time frame.

Time Fractals is a term coined by Orpheus Research. TIME TRIADS is our weekly market letter. The report covers various aspects on TIME patterns, TIME forecast, alternative research, emerging markets, behavioral finance, market fractals, econohistory, econostatistics, time cyclicality, investment psychology, socioeconomics, pop cultural trends, macro economics, interest rates, derivatives, money management, Intermarket trends etc.




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