The S&P 500 trading range is likely to continue into March 10th. That date is the next projected turning point for this index. The uptrend is likely to resume at that time.
Ametek’s weekly cycle yields a buy signal on March 4th. In the last year, all 10 buy signals led to profits. This strong stock is likely to trade up closer to the 85 level by mid-March.
Chart 1
The weekly cycle bottoms now.
Chart 2
There are higher lows in momentum and relative strength is strong.
The weekly price cycle of Symantec gives a sell signal on March 4th. In the trailing 12 months, 9 of 11 such signals have been successful. The stock is likely to pull back closer to 21 to close the last gap up. Do not remain short beyond the March 18th buy date. The stock appears to be beginning a new longer-term uptrend.
Chart 3
Chart 4
