Monday, May 9, 2011

comments and outlook for 05-10

Today played out much as I expected in my post.  Tomorrow I expect a down day.  The 22TD cycle is down.  the 5.6TD cycle is down the next day and a half.  The 2.8 day cycle should top in the morning and turn down,  the 11.2 day cycle is up.  With this setup I expect the market to be down for the day tomorrow and into the day Wednesday.  We probably give up today's gains and then some.

Here is a visual:
GL traders.  Do your own analysis.
Update:  CME increases margins on oil futures by 25%.

1 comment:

  1. Looks like today's outlook was off the mark. Gotta take a close look at my cycle positioning.