The Marriott weekly cycle turns up this week. Five of the six buy signals have proven profitable in the last year. The stock is overbought after its recent run. The shares are likely rise closer to $135 or better by mid-October. The weekly momentum is oversold.. There have been ten sell signals in the last twelve months and seven have been effective.
This cycle remains down to October 12. Chart 4 shows that this coming week has been down seasonally, reinforcing the sell on the weekly cycle. The graph shows the average daily return for all such weeks since 1980. The stock is overbought on a daily basis and relative strength has been weak. The stock is due to retreat closer to $58 by Friday. Close shorts at that time. This stock has tended to decline in the coming week.
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