Weekly MOTR Report (WMR): “Lack of Follow Through is More Neutral Than Bearish.”

October 16th, 2023

David Lundgren, CMT CFA

This Week's Highlights

The market's failure to follow through since the October lows is the first time since 1960 that our trend models have "falsely" identified a new bull market.
Our take at this point, for reasons cited below, is that this failure to reach "escape velocity" is more neutral than bearish. It may be the case that the bull market is simply delayed for now.
As long as we are below 4375-4475, we are open to the market probing lower

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