Tuesday, January 11, 2011

01-11 comments and Wed outlook

The low today was around 2 pm the bottom of the 5 hr cycle.  Seems that cycle has more amplitude than realized as I expected the 1 day and 3 day cycle to cause a bottom at the close (as the 5 hr moved up) - which did not happen. 

Should be up the first 45-60 minutes as 5 hr cycle tops.  Then should get a bottom 12:30-1:00 pm as 5 hr and 3 day cycle bottoms.  The day's top should be around  2:30 pm as 5 hr and 1 day cycles top.  Looks like Wednesday afternoon presents a good shot at breaking to new highs on the S&P.

As always - this is my opinion and is intended only to assist you in your own analysis and not as a substitute for your analysis.  Here is a chart of the S&P with projections:

GL traders.  FYI: http://www.safehaven.com/article/19618/yearly-cycle-low-approaching

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