Wednesday, January 12, 2011

01-12 comments and Thur outlook

Why did we not get the expected pullback midday?  Seems there was a longer cycle influencing market movement.  So lets back off and look.  There is a 5 +/- day cycle that was up and topped today that appears to have overridden the shorter cycles.  Take a look:

This cycle should have topped today and will be down the next 2.5-3 days.  This increases the odds that Thur and Friday will have a down bias.  Here is the outlook for tomorrow:

It appears that the low for tomorrow should be between 3:00 and 4:00.  It also appears the day should start  with a downward bias (maybe a gap down?).
Do you own analysis - this is my opinion based on the data I have looked at.   GL.

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