Thursday, January 20, 2011

Comments and outlook for 01-21

As expected the downward bias continued for a second day.  A little more of a bounce than expected in the afternoon.  Tomorrow the downward bias should continue.  We are looking for the 20 week cycle to top soon and this may limit the downside, but when it tops it will add to the downside bias. 

Here is a chart showing expectations:

GL traders.  I trimmed my bear ETF holdings today selling 30% of my QID holdings (as I advised).  On a bounce I expect to buy these shares again.
Do your own analysis please.

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