Wednesday, January 26, 2011

comments and outlook 1-27

Well I said we would open up and likely set new highs before noon.  And we did.  I expected some sell off in the afternoon (which was more sideways than down).  We did finish down a bit from the days highs though I thought we would be 2-3 points lower at the close.  Finally we closed green as I projected.

But, what about tomorrow.  Well we should have the 11 day cycle topping so it may offer some downside pressure.  At the very least no upside pressure.  Here is the chart:

The short cycles play out this way I believe.  A slight blip up the first half hour or so until the 5.5 hour cycle tops.  Maybe we take out 1300, but the slight pullback into the close makes it a little harder.  Then it appears we should head down until around 1:30.  Some slight recovery into the close, but down for the day.

Here is the chart:
Again - these projections are not meant to drive your trading but to give you a general idea of what I expect based on the short cycles.  Do your own analysis and decide based on actual market action.

GL traders.

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