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Weekly Bull Momentum Fading in December 2008 Finance Market Analysis

The weekly chart updated for December 15, 2008, indicates a waning weekly bull trend with a shift towards neutrality. The longer-term pattern remains bearish, as observed in the monthly chart analysis in the Archive. An unusual feature is the collapse of the dominant short-term cycle from weekly to intra-day scale, speeding up momentum reversals on a daily basis. The macro drift rate has returned to bearish territory, yet the weekly trend wobbling point remains slightly positive. This appears to mark the conclusion of a two-week bull cycle within an overarching bear market, reminiscent of a "sucker rally" in financial jargon.

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Weekly Bull Momentum Fading in December 2008 Finance Market Analysis

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  1. 2008.12.15 – TSP C-Fund weekly chart updated daily for the close on Mon., Dec. 15, 2008, is WEEKLY BULL WANING. The weekly bull cycle pattern seems to be slipping back toward neutral. The longer-term pattern is still bearish (see monthly chart in the Archive). The current orbit has a peculiar feature that the dominant short-term period collapsed from a weekly scale to an intra-day scale. This speed-up accelerated the frequency of the cross-over of the positive diagonal (reversal of momentum) to a daily phenomenon. The macro drift rate has shifted back to bear territory, but the weekly wobble point is still slightly positive. On the weekly scale, this looks like the end of a two-week bull cycle in a longer-term bear market, a.k.a. “sucker rally” in Wall Street lingo.

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