Cycles still point up. This is options expiration week. In July, this time period has had a bullish bias. We can expect higher indices.
Here is a buy recommendation for this week. The weekly price cycle of Delta Air Lines DAL turned up on the 9th and tops on July 30th. In the last twelve months, five signals of seven have been profitable. The company reports on Tuesday prior to the open, so the cycle suggests a positive earnings surprise. Technically, daily price and relative strength have been gaining momentum. The shares are likely to rise closer to the $30 area.
Chart 3 shows that the short-term cycle for JP Morgan has topped. The stock is likely to sell off in the coming week. Relative strength has been weak, and the cycle suggests continued underperformance. The shares likely face a negative response to its early-week earnings release. The shares are due to hit $90 before they move higher.