Cycles are a tool and should not be used to the exclusion of other tools. There is always the possibility (high probability long term) that the data will be misinterpreted or a relevant fact over looked. So use cycles to check your analysis, not as the only reason to make a decision. Interpretation is the opinion of the author and may be incorrect and should be viewed in that light.
Wednesday, November 17, 2010
11-17 OIL cycles revisited
Called the last bottom in ETF OIL (11/01). So we took another look. It appears it is ready to bottom in the next 1-2 days. See for yourself:
Update 10-18: CCI peeked above -100 triggering a CCI buy signal today.