Monday, January 24, 2011

comments and today's expected action

Monday closed higher with DOW challenging the 12k area.  AH earnings were mixed.  So far 75% of S&P earnings have beaten analyst's estimates.  This week over 1/5 of the S&P 500 reports.  Potential for a lot of volatility.

Tuesday looks less like a "push up" day and more like a sideways type day based on the very short cycles.  Of course the longer cycles could push the market higher or lower.  I believe the 20 week cycle is pushing toward a top providing some support for the market and the 1 year cycle has not built enough downward momentum to overcome that.

Here is my projection for today:

Caution:  Do not use these projection to make investment decisions as they may prove totally wrong.  As always do your own analysis and use stops to limit losses and protect gains.

GL traders.

4 comments:

  1. NICE...!!!! Once again dead on.

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  4. Thanks shadow. Even a blind hog finds an acorn every now and then.

    Inlet

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