The market is likely to decline this week as the correction resumes after the brief rally of the last twoweeks. The drop will likely complete by the 19th.
The seasonal cycle for Micron Technology falls from November 8th to the 20th, Micron’s weakest period in the month of November. In addition, the weekly cycle of Micron Technology turned down on October 4th. Six of the last seven sell signals have been successful. The stock could decline to $93.4 to $92.0 in the coming week. The cycle does not bottom until the 22nd, but traders may wish to take profits by the 19th.
Facebook is likely to decline this week. There is a cycle peak on the 13th. Ten of twelve sell signals have been profitable in the last year. The stock is overbought daily and relative strength has hit a new low. The $139 level, the October 29th low, is a downside target.
LAM Research was featured in a posting on September 23rd as a short. The stock has declined from $154.70 to $147.85. All six sell signals in the last year have been profitable. The $141-$143 level is a reasonable downside minimum target.