The S&P 500 has traditionally been strong in April post-OPEX week. Monday has been down 61% of the time, but Tuesday through Thursday have been strong. Given the strong momentum, higher prices are likely. The S&P is likely to hit 4200-4300 by early May.
The Chevron CVX daily cycle hits a low on the 18th, projecting higher prices for this coming week. April has been the strongest month for this stock, up 69.0% for an average gain of 3.4%. The daily cycle buy signals have been correct in all ten occurrences this year. In addition, the stock has been strong in April post-OPEX (options expiration) week especially late in the week. The stock may exceed $104.3, the prior high.
Chart 1: CVX Daily Cycle
This accurate short-term cycle signals a strong week.
Cycles Research Investments LLC
Chart 2: CVX Daily Graph
There are higher lows in momentum.
Cycles Research Investments LLC
The daily KLA KLAC cycle is bottoming and has been correct in all nine cases in the last year. April has been the 4th strongest month of the year, up 62.2% of the time for an average return of 3.9%. This stock has also been strong in post-OPEX week specially on Wednesday and Thursday. The $355 area is a logical target.
